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Chapter 1 Introduction to Managerial Accounting




Question;33) Managerial accounting information;tends to report on segments of the business.;34) Managerial accounting reports are;always prepared on a quarterly and annual basis.;35) Managerial information is always based;on historical transactions with external parties.;36) What is one constraint placed on the;information provided by a managerial accounting system?;A) Generally Accepted Accounting;Principles (GAAP);B) SEC Regulations;C) Cost - Benefit;D) International Financial Reporting;Standards (IFRS);37) How often should managerial accounting;reports be prepared?;A) Annually;B) Quarterly;C) Monthly;D) As often as necessary;38) Which of the following statements is true;regarding managerial accounting information?;A) It is audited by CPAs.;B) It emphasizes relevance.;C) It is prepared annually and quarterly.;D) It must be prepared in conformity with;generally accepted accounting principles (GAAP).;39) The focus of management accounting is;on;A) tax preparation.;B) external reporting.;C) internal reporting.;D) auditing.;40) Which of the following people is most;likely to only use financial accounting information?;A) Vice president of plant operations;B) Product manager;C) Plant manager;D) Bank loan officer


Paper#55010 | Written in 18-Jul-2015

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