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Managerial Accounting questions with correct answers.
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Managerial Accounting questions withcorrect answers.
Managerial accounting applies to all types of businesses, including service, merchandising, and
manufacturing, as well as to all forms of business organizations.
True/False ANS - True
Financial and managerial accounting are similar in that both:
A. produce general-purpose reports
B. deal with the economic events of an enterprise
C. have reports that are prepared quarterly and annually
D. have the same primary users ANS - B. deal with the economic events of an enterprise
Managerial accounting applies to each of the following types of businesses except:
A. manufacturing firms
B. merchandising firms
C. managerial accounting applies to all types of firms
D. service firms ANS - C. managerial accounting applies to all types of firms
Managerial accounting information is generally prepared for:
A. creditors
B. stockholders
C. managers
D. regulatory agencies ANS - C. managers
, Managerial accounting does not encompass:
A. calculating product cost
B. calculating earnings per share
C. determining cost behavior
D. profit planning ANS - B. calculating earning per share
Managerial accounting is applicable to:
A. service entities
B. manufacturing entities
C. not-for-profit entities
D. all of these ANS - D. all of these
Management accountants would not:
A. determine cost behavior
B. prepare reports primarily for external users
C. assist in budget planning
D. be concerned with the impact of cost and volume on profits ANS - B. prepare reports primarily for
external users
Internal reports must be communicated:
A. annually
B. daily
C. monthly
D. as needed ANS - D. as needed
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