Accounting

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Acct 340-Midterm Review Multiple Choice Identify the choice that best completes the statement or answers the question. ____ 1. Which of the following is NOT a process associated with an accounting information system? |a. |auditing existing data | |b. |collecting and recording data | |c. |providing information to users | |d. |analyzing and managing data | ____…show more content…
|a. |cost information in accordance with GAAP | |b. |cost information about processes and activities | |c. |financial information for external users | |d. |cost information about products, customers, and services | ____ 5. Cost accounting |a. |is concerned with assigning costs to various cost objects. | |b. |attempts to satisfy the costing objectives of both financial accounting and management accounting. | |c. |provides cost information that supports planning, controlling, and decision making. | |d. |all of these. | ____ 6. Which of the following activities is associated with the cost management information system? |a. |preparing reports for division managers | |b. |preparing reports for the IRS | |c. |preparing reports for the
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