Which of the following statements refers to management accounting information? There are no regulations governing the reports. 7. a. The reports are generally delayed and historical. The audience tends to be stockholders, creditors, and tax authorities. It primarily measures and records business transactions. Management accounting information includes: tabulated results of customer satisfaction surveys the cost of producing a product the percentage of units produced that are defective All of these answers are correct. b. C. ed. 8. a. b. C. od. Cost accounting: provides information on the efficiency of factory labor provides information on the cost of servicing commercial customers 9. a. b. provides information on the performance of an operating division C. All of these answers are correct. d. Which of the following types of information are used in management accounting? financial information nonfinancial information information focused on the long term All of these answers are correct. 10. a. b. ad. Modern cost accounting plays a role in: planning new products 11. a. evaluating operational processes b. controlling costs All of these answers are correct. C. d. A data warehouse or infobarn: is reserved for exclusive use by the CFO is primarily used for financial reporting purposes 12. a. b. stores information used by different managers for multiple purposes gaiiners oniy onfinanciai infunmation Cost accounting provides all of the following EXCEPT: information for management accounting and financial accounting C. d. 13. a. pricing information from marketing studies b. financial information regarding the cost of acquiring resources C. nonfinancial information regarding the cost of operational efficiencies Management accounting includes: implementing strategies developing budgets preparing special studies and forecasts All of these answers are correct. 14. a. b. C. d. Financial accounting is concerned PRIMARILY with: external reporting to investors, creditors, and government authorities cost planning and cost controls profitability analysis d. 15. a. b. C. providing information for strategic and tactical decisions Page 3 o
Which of the following statements refers to management accounting information? There are no regulations governing the reports. 7. a. The reports are generally delayed and historical. The audience tends to be stockholders, creditors, and tax authorities. It primarily measures and records business transactions. Management accounting information includes: tabulated results of customer satisfaction surveys the cost of producing a product the percentage of units produced that are defective All of these answers are correct. b. C. ed. 8. a. b. C. od. Cost accounting: provides information on the efficiency of factory labor provides information on the cost of servicing commercial customers 9. a. b. provides information on the performance of an operating division C. All of these answers are correct. d. Which of the following types of information are used in management accounting? financial information nonfinancial information information focused on the long term All of these answers are correct. 10. a. b. ad. Modern cost accounting plays a role in: planning new products 11. a. evaluating operational processes b. controlling costs All of these answers are correct. C. d. A data warehouse or infobarn: is reserved for exclusive use by the CFO is primarily used for financial reporting purposes 12. a. b. stores information used by different managers for multiple purposes gaiiners oniy onfinanciai infunmation Cost accounting provides all of the following EXCEPT: information for management accounting and financial accounting C. d. 13. a. pricing information from marketing studies b. financial information regarding the cost of acquiring resources C. nonfinancial information regarding the cost of operational efficiencies Management accounting includes: implementing strategies developing budgets preparing special studies and forecasts All of these answers are correct. 14. a. b. C. d. Financial accounting is concerned PRIMARILY with: external reporting to investors, creditors, and government authorities cost planning and cost controls profitability analysis d. 15. a. b. C. providing information for strategic and tactical decisions Page 3 o
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 2EA: Identify the following as True or False: Managerial accounting reports must comply with the rules...
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what is the managerial accounting
Transcribed Image Text:Which of the following statements refers to management accounting information?
There are no regulations governing the reports.
7.
a.
The reports are generally delayed and historical.
The audience tends to be stockholders, creditors, and tax authorities.
It primarily measures and records business transactions.
Management accounting information includes:
tabulated results of customer satisfaction surveys
the cost of producing a product
the percentage of units produced that are defective
All of these answers are correct.
b.
C.
ed.
8.
a.
b.
C.
od.
Cost accounting:
provides information on the efficiency of factory labor
provides information on the cost of servicing commercial customers
9.
a.
b.
provides information on the performance of an operating division
C.
All of these answers are correct.
d.
Which of the following types of information are used in management accounting?
financial information
nonfinancial information
information focused on the long term
All of these answers are correct.
10.
a.
b.
ad.
Modern cost accounting plays a role in:
planning new products
11.
a.
evaluating operational processes
b.
controlling costs
All of these answers are correct.
C.
d.
A data warehouse or infobarn:
is reserved for exclusive use by the CFO
is primarily used for financial reporting purposes
12.
a.
b.
stores information used by different managers for multiple purposes
gaiiners oniy onfinanciai infunmation
Cost accounting provides all of the following EXCEPT:
information for management accounting and financial accounting
C.
d.
13.
a.
pricing information from marketing studies
b.
financial information regarding the cost of acquiring resources
C.
nonfinancial information regarding the cost of operational efficiencies
Management accounting includes:
implementing strategies
developing budgets
preparing special studies and forecasts
All of these answers are correct.
14.
a.
b.
C.
d.
Financial accounting is concerned PRIMARILY with:
external reporting to investors, creditors, and government authorities
cost planning and cost controls
profitability analysis
d.
15.
a.
b.
C.
providing information for strategic and tactical decisions
Page 3 o
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