Managerial accounting applies to all types of businesses, including service,
merchandising, and manufacturing, as well as to all forms of business
organizations.
True/False Right 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 Right 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 Right 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 Right Ans - C. managers
Managerial accounting does not encompass:
A. calculating product cost
B. calculating earnings per share
C. determining cost behavior
D. profit planning Right Ans - B. calculating earning per share