Act220 - Study guides, Class notes & Summaries

ACT220 Chapter 10 Test Questions and Answers Decentralization in Organizations: Benefits •Top management freed to concentrate on overall strategy. •Lower-level decisions often based on better operational decisions. •Lower level managers can respond quickly to customers. •Lower-level managers gain experience in decision-making. Increases motivation resulting in increased job satisfaction and retention Decentralization in Organizations: Disadvantages •Lower-level managers may ma...

ACT220 EXAM 1 Questions and Correct Answers Which of the following is a focus of managerial accounting? -to provide information to shareholders to assist them with their investment decisions -to provide information to business managers to assist them in controlling their businesses -to generate a company's financial statements for tax reporting -to ensure that the reports produced for internal and external business purposes are GAAP compliant - ANSWER To provide information to bus...

ACT220 EXAM 1 QUESTIONS WITH CORRECT ANSWERS Which of the following is a focus of managerial accounting? -to provide information to shareholders to assist them with their investment decisions -to provide information to business managers to assist them in controlling their businesses -to generate a company's financial statements for tax reporting -to ensure that the reports produced for internal and external business purposes are GAAP compliant - CORRECT ANSWER To provide ...

ACT220 EXAM 1 WITH COMPLETE SOLUTION...

Accounting The information system that identifies, records, and communicates the economic events of an organization to interested users. Accounting information system The system of collecting and processing transaction data and communicating financial information to decision-makers.