Chapter 1, Problem 5Q

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

Which of the following groups would have access to managerial accounting information? A. bankers B. investors C. competitors of the business D. managers

Define each of these users of accounting information as an internal user of external user Management Employees Investors Creditors Customers Tax authorities

Use the internet to research one manufacturing, one retail (or merchandising), and one service business. For each business, describe the following: A. the primary purpose of the entity B. the types of activities that accountants would record (hint: what is the source of the business funding, and what costs might the business have?) C. the types of decisions that might be made in this organization and how financial and nonfinancial information might help the decision-making process

Which of the following is a mechanical aspect of accounting? Select one: a. Analyzing the transactions preparatory to the recording process b. Designing the accounting system c. Reviewing the effectiveness of the internal control procedures d. Preparation of the financial budget         Which of the following statement is not true? Select one: a. A non-accounting graduate may work as a bookkeeper or accountant of a business enterprise. b. A non-CPA may be engaged in public accounting. c. To be a good accountant, one must have mastery of mathematics. d. A non-CPA may be the chief accountant of a business enterprise.         The area of accounting that relates to providing audit, tax, and consulting services to clients. Select one: a. General managers b. Public accounting c. Incorporators d. Private accounting

Why are we studying IT controls, functions, and job responsibilities in an accounting course?

What are the possible careers for someone skilled enough in accounting information system?

What is the role of accounting and accountants? Include answers to the following two questions in your explanation: What is the difference between financial and managerial accounting? What is the difference between public and private accounting? Provide specific examples from your experience and/or this week's readings to support your ideas.

Understand the intentions of accounting students on career as professional accountant .