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Chapter 1 Introduction to Managerial Accounting




Question;41) Managerial accounting would use which;of the following types of information?;A) Forecasts of future earnings;B) Financial information;C) Nonfinancial information;D) All of the above;42) Which of the following persons or;groups would be least likely to receive detailed managerial accounting;reports?;A) CEO;B) Plant managers;C) Current shareholders;D) Sales territory managers;43) ________ is designed to meet the needs;of internal decision makers.;A) Tax accounting;B) Managerial accounting;C) Financial accounting;D) Audit accounting;44) The primary goal of managerial;accounting is to provide information to;A) internal decision-makers.;B) shareholders.;C) creditors.;D) both shareholders and creditors.;Answer;A;45) The primary goal of financial;accounting is to provide information for;A) governmental regulators.;B) creditors.;C) potential investors.;D) all of the above.;46) Which of following statements is true?;A) Managerial accounting focuses on;historical transactions.;B) Financial accounting focuses on future;data.;C) Management accounting focuses on;relevant data.;D) Managerial accounting uses the cash;basis for recording transactions.;47) Which statement is true?;A) Management uses financial information;to analyze costs.;B) Management uses financial information;to plan internal operations.;C) Management uses reports created for;internal parties.;D) All of the above are true.;48) Which of the following statements is false?;A) Financial accounting helps investors;make decisions.;B) Financial accounting provides;sufficient information for managers to effectively plan and control operations.;C) Financial accounting reports help;creditors make decisions.;D) Financial accounting provides external;reports.


Paper#55011 | Written in 18-Jul-2015

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