ACCOUNTING 526 MIDTERM {MEYER} EXAM LATEST UPDATED
Is it true or false?
Accounting for a company's external users is known as managerial accounting.
ANSWER false
Is it true or false?
Among the duties of management accountants are to provide an analysis to a
firm on the addition of a certain product line, the withdrawal of sales markets,
or the handling of opportunities or hazards. The ANSWER is true.
Is it true or false?
The same standards that apply to financial accounting also apply to managerial
accounting. ANSWER false
Is it true or false?
In order for corporate executives to execute their strategies with ease,
managerial accountants must have a thorough understanding of their company's
strategy and critical business procedures. The ANSWER is true.
Is it true or false?
Making decisions that are just, proper, and right is a key component of ethical
activity. The ANSWER is true.
Is it true or false?
Businesses worldwide no longer make unethical decisions. ANSWER false
, Regarding financial accounting, which of the following is accurate?
an. Its main focus is on creating data for internal users.
A b. It doesn't adhere to any regulations set by outside parties.
c. It places a great emphasis on informing people about upcoming activities.
d. It offers a more comprehensive perspective by concentrating on the overall
performance of the company - ANSWER D
What distinguishes managerial accounting from financial accounting?
an. Information for internal users is the primary focus of financial accounting,
whereas information for external users is the primary focus of managerial
accounting.
A b. Whereas managerial accounting places more emphasis on the future,
financial accounting is more focused on the past.
c. While managerial accounting is more self-contained, financial accounting
encompasses a wide range of disciplines. ANSWER B
Which of the following describes a controlling situation?
an. supplying accounting data to internal users of a business
A b. The process of selecting among competing options
c. the managerial task of keeping an eye on a plan's execution and making
necessary corrections
d. the thorough planning of activities to accomplish a specific goal - ANSWER
C
The management activity known as " ANSWER planning" is the thorough
development of a course of action to accomplish a certain goal.
According to the Institute of Management Accountants, which of the following
describes a norm of ethical behavior for managerial accountants? The ability to
respond
Is it true or false?
Accounting for a company's external users is known as managerial accounting.
ANSWER false
Is it true or false?
Among the duties of management accountants are to provide an analysis to a
firm on the addition of a certain product line, the withdrawal of sales markets,
or the handling of opportunities or hazards. The ANSWER is true.
Is it true or false?
The same standards that apply to financial accounting also apply to managerial
accounting. ANSWER false
Is it true or false?
In order for corporate executives to execute their strategies with ease,
managerial accountants must have a thorough understanding of their company's
strategy and critical business procedures. The ANSWER is true.
Is it true or false?
Making decisions that are just, proper, and right is a key component of ethical
activity. The ANSWER is true.
Is it true or false?
Businesses worldwide no longer make unethical decisions. ANSWER false
, Regarding financial accounting, which of the following is accurate?
an. Its main focus is on creating data for internal users.
A b. It doesn't adhere to any regulations set by outside parties.
c. It places a great emphasis on informing people about upcoming activities.
d. It offers a more comprehensive perspective by concentrating on the overall
performance of the company - ANSWER D
What distinguishes managerial accounting from financial accounting?
an. Information for internal users is the primary focus of financial accounting,
whereas information for external users is the primary focus of managerial
accounting.
A b. Whereas managerial accounting places more emphasis on the future,
financial accounting is more focused on the past.
c. While managerial accounting is more self-contained, financial accounting
encompasses a wide range of disciplines. ANSWER B
Which of the following describes a controlling situation?
an. supplying accounting data to internal users of a business
A b. The process of selecting among competing options
c. the managerial task of keeping an eye on a plan's execution and making
necessary corrections
d. the thorough planning of activities to accomplish a specific goal - ANSWER
C
The management activity known as " ANSWER planning" is the thorough
development of a course of action to accomplish a certain goal.
According to the Institute of Management Accountants, which of the following
describes a norm of ethical behavior for managerial accountants? The ability to
respond
