QUESTIONS AND ANSWERS
Information is provided to insiders, including executives, managers, employees -
ANS managerial accounting
Information is provided to outsiders, including investors, creditors, government agencies -
ANS financial accounting
Information is local and pertains to the subunits of the organization. - ANS managerial
accounting
Information is regulated by the SEC, FASB, and other sources of GAAP. - ANS financial
accounting
Which of the following is a characteristic of managerial accounting information? - ANS It
involves continuous reporting.
Which of the following are true? - ANS Variable costs per unit are constant
As activity increases, fixed cost per unit decrease.
A cost center - ANS incurs expenses and earns no revenue.
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