Test Bank for Managerial Accounting, 2025 Release by Stacey Whitecotton

Answers Included ✅
Chap 01 2025 Release - Whitecotton
TRUE/FALSE - Write 'T' if the statement is true and 'F' if the statement is false.
1) Financial accounting information is generally used exclusively by internal parties such as
managers.
1) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-01 Describe the key differences between financial accounting and managerial a
Topic : Comparison of financial and managerial accounting
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-1 (Static) Financial accounting information
is...



2) Financial accounting information is reported for the company as a whole.
2) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-01 Describe the key differences between financial accounting and managerial a
Topic : Comparison of financial and managerial accounting
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-2 (Static) Financial accounting information
is reported...




1

,3) Managers must direct, lead, and motivate during the implementation function.
3) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Describe how managerial accounting is used in different types of organizat
Topic : Functions of Management
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-3 (Static) Managers must direct, lead, and
motivate...



4) Managers of small, private corporations use managerial accounting information, whereas
managers of large, public corporations use financial accounting information.
4) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-02 Describe how managerial accounting is used in different types of organizat
Topic : Functions of Management
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-4 (Static) Managers of small, private
corporations...




2

,5) The Sarbanes-Oxley Act of 2002 places full responsibility on the board of directors for the
accuracy of the reporting system.
5) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Analytical Thinking
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-S1 Describe the Sarbanes-Oxley Act and the importance of ethics in the accoun
Topic : Ethics and the Sarbanes Oxley Act
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-5 (Static) The Sarbanes-Oxley Act of 2002
places full...



6) The Sarbanes-Oxley Act of 2002 focuses on three factors that affect the accounting reporting
environment: ethics, fraud, and management.
6) ______
⊚ true
⊚ false

Question Details
AICPA : BB Legal
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Understand
Business Competency : Ethics
Difficulty : 2 Medium
Gradable : automatic
Learning Objective : 01-S1 Describe the Sarbanes-Oxley Act and the importance of ethics in the accoun
Topic : Ethics and the Sarbanes Oxley Act
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-6 (Static) The Sarbanes-Oxley Act of 2002
focuses on...




3

, 7) A sustainable business is one with the ability to meet the needs of today without sacrificing
the ability of future generations to meet their own needs.
7) ______
⊚ true
⊚ false

Question Details
AICPA : BB Resource Management
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Ethics
Difficulty : 1 Easy
Gradable : automatic
Learning Objective : 01-03 Describe the importance of sustainability and decision analytics in manage
Topic : Sustainability accounting
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-7 (Static) A sustainable business is one with
the...



8) The term "big data" refers to the volume, velocity, variety, and veracity of data.
8) ______
⊚ true
⊚ false

Question Details
AICPA : BB Critical Thinking
Accessibility : Screen Reader/Keyboard/CC
Bloom's : Remember
Business Competency : Analytical Thinking
Difficulty : 1 Easy
Evergreen Release : Updated 2025
Gradable : automatic
Learning Objective : 01-03 Describe the importance of sustainability and decision analytics in manage
Topic : Decision Analytics
Type : Static
Source : Chapter 01 Test Bank – Algorithmic and Static > TB TF Qu. 1-8 (Static) The term "Big data"
refers to the volume...




4