Test Bank for Fundamental managerial accounting concepts thomas
edmonds 9th edition | All Chapters included |LATEST.
,
,Fundamental Managerial Accounting Concepts, 9e (Edmonds) Chapter 1
Management Accounting and Corporate Governance
1) Ashley Bradshaw is the manager of one department in a large store. In this capacity, which of the
following kinds of information would she be interested in?
A) Economic data
B) Financial data
C) Nonfinancial data
D) Financial, economic, and nonfinancial data
2) All of the following are features of managerial accounting except:
A) information is provided primarily to insiders such as managers.
B) information includes economic and non-financial data as well as financial data.
C) information is characterized by objectivity, reliability, consistency, and accuracy.
D) information is reported continuously with a present or future orientation.
3) Choose the answer that is not a distinguishing characteristic of financial accounting
information.
A) It is global information that reflects the performance of the whole company.
B) It is focused primarily on the future.
C) It is more concerned with financial data than physical or economic data.
D) It is more highly regulated than managerial accounting information.
4) Managerial accounting information is limited or restricted by which of the following
authorities or principles?
A) Securities and Exchange Commission
B) Generally Accepted Accounting Principles
C) Managerial Accounting Standards Board
D) Value-Added Principle
5) Select the incorrect statement regarding the relationship between type of user and type of
information.
A) Middle managers need more nonfinancial, or operational data than do senior executives.
B) Assembly line supervisors need more immediate feedback on performance than do senior
executives.
C) Senior executives need less aggregated information than do lower-level managers.
D) Senior executives use general economic information as well as financial information.
1
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 6) Select the correct statement regarding managerial and financial accounting.
A) Users of managerial accounting information desire greater aggregation than do users of
financial accounting information.
B) Both managerial and financial accounting use economic and physical data in addition to
financial data.
C) Financial accounting is more highly regulated than managerial accounting.
D) Timeliness is more important in financial accounting than in managerial accounting.
2
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
edmonds 9th edition | All Chapters included |LATEST.
,
,Fundamental Managerial Accounting Concepts, 9e (Edmonds) Chapter 1
Management Accounting and Corporate Governance
1) Ashley Bradshaw is the manager of one department in a large store. In this capacity, which of the
following kinds of information would she be interested in?
A) Economic data
B) Financial data
C) Nonfinancial data
D) Financial, economic, and nonfinancial data
2) All of the following are features of managerial accounting except:
A) information is provided primarily to insiders such as managers.
B) information includes economic and non-financial data as well as financial data.
C) information is characterized by objectivity, reliability, consistency, and accuracy.
D) information is reported continuously with a present or future orientation.
3) Choose the answer that is not a distinguishing characteristic of financial accounting
information.
A) It is global information that reflects the performance of the whole company.
B) It is focused primarily on the future.
C) It is more concerned with financial data than physical or economic data.
D) It is more highly regulated than managerial accounting information.
4) Managerial accounting information is limited or restricted by which of the following
authorities or principles?
A) Securities and Exchange Commission
B) Generally Accepted Accounting Principles
C) Managerial Accounting Standards Board
D) Value-Added Principle
5) Select the incorrect statement regarding the relationship between type of user and type of
information.
A) Middle managers need more nonfinancial, or operational data than do senior executives.
B) Assembly line supervisors need more immediate feedback on performance than do senior
executives.
C) Senior executives need less aggregated information than do lower-level managers.
D) Senior executives use general economic information as well as financial information.
1
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
, 6) Select the correct statement regarding managerial and financial accounting.
A) Users of managerial accounting information desire greater aggregation than do users of
financial accounting information.
B) Both managerial and financial accounting use economic and physical data in addition to
financial data.
C) Financial accounting is more highly regulated than managerial accounting.
D) Timeliness is more important in financial accounting than in managerial accounting.
2
Copyright 2020 © McGraw-Hill Education. All rights reserved. No reproduction or distribution without the prior
written consent of McGraw-Hill Education.
