Chapter01.the Changing Role of Managerial Accounting in a Dynamic Business Environment

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Multiple Choice Questions 1. Which of the following statements about managerial accountants is false? A. Managerial accountants more and more are considered "business partners." B. Managerial accountants often are part of cross-functional teams. C. An increasing number of organizations are segregating managerial accountants in separate managerial-accounting departments. D. In a number of companies, managerial accountants make significant business decisions and resolve operating problems. E. The role of managerial accountants has changed considerably over the past decade. Answer: C LO: 1 Type: RC 2. The day-to-day work of management teams will…show more content…
C. Payoff matrix. D. Decision tree. E. Chart of operating performance (COP). Answer: B LO: 3 Type: RC 12. Which of the following perspectives is normally absent in a balanced scorecard? A. Financial. B. Customer. C. Internal operations. D. Learning and innovation/growth. E. None of the above. Answer: E LO: 3 Type: RC 13. Managerial accounting: A. focuses only on historical data. B. is governed by GAAP. C. focuses primarily on the needs of personnel within the organization. D. provides information for parties external to the organization. E. focuses on financial statements and other financial reports. Answer: C LO: 4 Type: RC 14. Managerial accounting: A. is unregulated. B. produces information that is useful only for manufacturing organizations. C. is based exclusively on historical data. D. is regulated by the Securities and Exchange Commission (SEC). E. generally focuses on reporting information about the enterprise in its entirety rather than by subunits. Answer: A LO: 4 Type: N 15. Which of the following would likely be considered an internal user of accounting information rather than an external user? A. Stockholders. B. Consumer

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