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- Which of the following is not true? A. Organizations share a common purpose or mission. B. Organizations have inflows and outflows of resources. C. Organizations add value to society. D. Organizations need accounting information.2. Which is the main characteristic of Management accounting? a. Helping to achieve organizational goals b. All of the above c. Analyzing accounting information d. Cause and effect analysisWhich of the following statements is not true? a. Management accounting practices are laid down by Accounting Standards Board (ASB) b. Management accounting is future oriented c. Management accounting information is primarily prepared for internal use d. Management accounting provides quantitative as well as qualitative information
- Enter the letter of each system principle in the blank next to its best description. A. Control principle C. Compatibility principle E. Cost-benefit principle B. Relevance principle D. Flexibility principle 1. The accounting information system helps monitor activities. 2. The accounting information system conforms to the company’s business activities. 3. The accounting information system changes in response to technological advances and competitive pressures. 4. Affects all other accounting information system principles. 5. The accounting information system provides timely information for effective decision making.Which of the following is not considered an analyticalaspect of the accounting profession?a. Evaluating an organization’s operational effi ciency.b. Forecasting the probable results of future operations.c. Designing systems that provide information to decisionmakers.d. Journalizing and posting business transactions.1. Explain detail about Ethical values and principles in management accounting give two examples
- The business research process involves a series of steps that systematically investigate aproblem facing the organization. Select one example of a business problem discuss the sequence of steps that can be followed to conduct the business researchto help in decision making.The following are basic characteristics of management accounting, except A. It is future-oriented. B. It is used by both the external and internal stakeholders C. It may use non-financial data or information D. It complies with generally accounting principles. (choose letter only)Choose the term or phrase below that best completes each statement.a. Accounting c. Recording e. Governmental g. Language of businessb. Identifying d. Communicating f. Technology h. Recordkeeping (bookkeeping) reduces the time, effort, and cost of recordkeeping while improving clerical accuracy.
- 6-Which of the following statements is not true? a. Management accounting information is primarily prepared for internal use b. Management accounting provides quantitative as well as qualitative information c. Management accounting practices are laid down by Accounting Standards Board (ASB) d. Management accounting is future orientedWhich among the following is concerned with Management Accounting? a. Preparation of financial statements b. Book keeping c. Providing useful information for strategic planning d. Taking decisionsManagerial accounting produces information: Select one: a. that follows the rules of GAAP b. to meet the needs of investors c. to meet the needs of external users d. that is often focused on the future