Managerial Accounting Exam 1 Review 2024 || Over 60 Questions & All Answers (100% Correct)

Managerial Accounting Exam 1 Review 2024 || Over 60 Questions & All Answers (100% Correct) Managerial Accounting Exam 1 Review 2024 || Over 60 Questions & All Answers (100% Correct) The management process is defined by a. planning b. Controllings c. Decision making d. All of the above e. None of the above - ANSWER - d. all of the above The org. that controls the certification of management accountants is the a. FASB b. SEC c. IMA d. AICPA e. None of the above - ANSWER - c. IMA One of the differences between managerial and financial accounting is a. Financial management is oriented towards internal users b. Managerial accounting has to follow GAAS c. Managerial accounting is oriented towards external users d. Financial accounting has to follow GAAP e. None of the above - ANSWER - d. Financial accounting has to follow GAAP Which of the following products would most likely use job-order costing instead of process costing? a. Motor oil b. Ice Cream c. Mass-produced furniture d. Custom race cars e. None of the above - ANSWER - d. custom race cars A management accountant must "Perform their professional duties in accordance with relevant laws, regulations and technical standards." Under the Standards for Ethical conduct, this falls under the category of a. competence b. Confidentiality c. Integrity d. Credibility e. None of the above - ANSWER - a. Competence