Solutions for Managerial Accounting, 5th Canadian Edition by Karen W. Braun

Solutions Managerial Accounting 5th Canadian Edition
Karen W. Braun - All Chapters included
Chapter 1
Introduction to Managerial Accounting

Quick Check
Answers:

1. b 3. d 5. c 7. c
2. b 4. d 6. c 8. b



Short Exercises
(5–10 min.) S1-1
The four primary responsibilities of managers include planning, directing, controlling, and decision
making. Managers plan by setting goals and objectives for the company and devising strategies for
achieving those goals. Then they direct the day-to-day operations of the company in light of the goals and
objectives. They control the company by comparing actual results to plans and then use that feedback to
adjust plans and operations. Throughout all aspects of these duties, management is making critical
business decisions.


Student responses may vary.

(5–10 min.) S1-2
a. Managerial accounting
b. Managerial accounting
c. Financial accounting
d. Financial accounting
e. Managerial accounting
f. Managerial accounting
g. Financial accounting
h. Managerial accounting
i. Financial accounting
j. Financial accounting
k. Financial accounting
l. Financial accounting
m. Managerial accounting




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