The main user group of management accounting is theO A. managersO B. investorsO C.creditorsO D. lenders

Management accounting includes ascertainment and allocation of cost incurred during the period. This…

Answered: The main user group of management…

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter1: Role Of Accounting In Society

Section: Chapter Questions

Problem 4MC: Which of the following groups would have access to managerial accounting information? A. bankers B....

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External users of accounting information would include ________________. employees managers investors supervisors
Typical accounting tasks include all of the following tasks except ________. A. auditing B. recording and tracking costs C. tax compliance and planning D. consulting E. purchasing direct materials
Which of the following use financial statement data to make decisions? a. customers c. suppliers b. investors d. all of these
ACCOUNTING PROCESS Match the following steps of the accounting process with their definitions. Analyzinga. Telling the results Recordingb. Looking at events that have taken place and thinking about how they affect the business Classifying Summarizingc. Deciding the importance of the various reports Reportingd. Aggregating many similar events to provide information that is easy to understand Interpretinge. Sorting and grouping like items together f. Entering financial information into the accounting system
What is the purpose of management accounting?
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
Organizational charts _____. A. list the salaries of all employees B. outline the strategic goals of the organization C. show the structure of an organization D. help management measure financial performance
Define each of these users of accounting information as an internal user of external user Management Employees Investors Creditors Customers Tax authorities
Companies need to report both monetary and nonmonetary data and information. A. Define these two terms and provide examples of each. B. Discuss what sources are available that provide companies with both types of data and information.
List the three basic questions that must be answered when analyzing the effects of a business transaction on the accounting equation.
Which of the following skills/attributes is not a primary skill for accountants to possess? A. written communication B. verbal communication C. ability to work independently D. analytical thinking E. extensive computer programing background
People affected by decisions made by a company, including Investors, creditors, employees, managers, regulators, customers, suppliers, and laypeople, are known as ________. A. quantitative factors B. qualitative factors C. stakeholders D. stockholders

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The main user group of management accounting is the O A. managers B. investors O C creditors O D. lenders