Ent exam 4 questions with 100%
correct answers 2025/2026
The primary purpose of managerial accounting - correct answer ✔✔is for internal decision
makers and to help managers plan, direct, control, and make decisions
Financial accounting and managerial accounting differ on the following 6 dimensions - correct
answer ✔✔1) primary users, (2) purpose of information, (3) focus and time dimension of the
information, (4) rules and restrictions, (5) scope of information, and (6) behavioral.
Managerial accounting functions: Business managers need information for - correct answer
✔✔planning, directing, and controlling as they lead the business.
Planning - correct answer ✔✔Planning means choosing goals and deciding how to achieve
them. Planning requires managers to look at the future and establish goals. Goals vary per
company but a common goal is to increase operating income. Other goals could be to develop
new products or expand into new territory.
planning can either be - correct answer ✔✔strategic- which is long term and often spans 3-10
years
operational- which focuses short term actions dealing with day-to-day operations. Operational
plans can be for one year or could just be monthly or quarterly.
directing - correct answer ✔✔involves running the day-to-day operations of a business like
purchasing, manufacturing, selling, motivating employees.
controlling - correct answer ✔✔is the process of monitoring operations and keeping the
company on track and includes comparing actual results to expected results.
correct answers 2025/2026
The primary purpose of managerial accounting - correct answer ✔✔is for internal decision
makers and to help managers plan, direct, control, and make decisions
Financial accounting and managerial accounting differ on the following 6 dimensions - correct
answer ✔✔1) primary users, (2) purpose of information, (3) focus and time dimension of the
information, (4) rules and restrictions, (5) scope of information, and (6) behavioral.
Managerial accounting functions: Business managers need information for - correct answer
✔✔planning, directing, and controlling as they lead the business.
Planning - correct answer ✔✔Planning means choosing goals and deciding how to achieve
them. Planning requires managers to look at the future and establish goals. Goals vary per
company but a common goal is to increase operating income. Other goals could be to develop
new products or expand into new territory.
planning can either be - correct answer ✔✔strategic- which is long term and often spans 3-10
years
operational- which focuses short term actions dealing with day-to-day operations. Operational
plans can be for one year or could just be monthly or quarterly.
directing - correct answer ✔✔involves running the day-to-day operations of a business like
purchasing, manufacturing, selling, motivating employees.
controlling - correct answer ✔✔is the process of monitoring operations and keeping the
company on track and includes comparing actual results to expected results.
