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Exam (elaborations)
Managerial Accounting Exam 1 Study 
Guide
Managerial Accounting Exam 1 Study 
Guide 
Ch. 1 
(T/F): 
1. Managers' 3 primary responsibilities are planning, directing, controlling 
2. Management accounting is geared toward external stakeholders, such as investors 
and creditors 
3. Management accountants often work in cross-functional teams throughout the 
organization 
4. The internal audit function reports to the audit committee of the board of directors 
5. Management accountants are now more often looked upon as internal business 
a...