Managerial Accounting Chapter 1 questions with correct answers
Who uses Managerial Accounting? Correct Answer-Internal users in the company (managers) What does Managerial Accounting Provide? Correct Answer-Economical and Financial information about the company Primary users of Reports (Financial vs Managerial) Correct Answer-F: External: creditors, stockholders M: Internal: Managers, offices Frequency and Type of Reports(Financial vs Managerial) Correct Answer-F: Financial Statements: Quarterly/Annually M: Internal Statements: as frequently as needed Purpose of Reports (Financial vs Managerial) Correct Answer-F: General M: Specific purposes for specific decisions Verification Process(Financial vs Managerial) Correct Answer-F: Audit by CPA M: No independent Audit Content of Report(Financial vs Managerial
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managerial accounting chapter 1 questions with cor
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