Test Bank For Horngren's Accounting, Volume 2, Canadian Edition, 13th Edition by Tracie Miller-Nobles, Brenda Mattison, Carol A. Meissner, Jo-Ann L. Johnston

DOWNLOAD THE Test Bank for Horngrens Accounting The
Managerial Chapters 13th Edition
Nobles
Horngren'sa3Accounting:a3Thea3Manageriala3Chapters,a313ea3(Miller-
Nobles)a3Chaptera3M:a31
Introductiona3toa3Manageriala3Accounting

Learninga3Objectivea3M:1-1

1) Manageriala3accountinga3focusesa3ona3providinga3informationa3fora3internala3planninga3a
nda3control.a3Answer:a 3 TRUE
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

2) Financiala3accountinga3preparesa3reportsa3fora3internala3purposes,a3whereasa3manageriala3accountin
ga3providesa3informationa3toa3externala3stakeholders.
Answer:a 3 a 3 FALSE
Explanation:a 3 Thea3reversea3isa3true.a3Financiala3accountinga3servesa3externala3stakeholdera3informat
iona3needsa3whilea3manageriala3accountinga3servesa3thea3needsa3ofa3managersa3anda3internala3staff.
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

3) Financiala3statementsa3prepareda3fora3investorsa3anda3creditorsa3oftena3includea3forward-
lookinga3informationa3becausea3theya3makea3decisionsa3baseda3ona3aa3company'sa3futurea3prospects.
Answer:a 3 a 3 FALSE
Explanation:a 3 Financiala3statementsa3providea3mostlya3historicala3information;a3relevanta3anda3faithfullya3
representativea3informationa3anda3focuseda3ona3thea3past.
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

4) Manageriala3accountinga3reportinga3bya3aa3publica3firma3isa3requireda3toa3followa3thea3r
ulesa3ofa3GAAP.a3Answer:a 3 FALSE
Explanation:a 3 Manageriala3accountinga3informationa3isa3nota3guideda3bya3GAAPa3buta3rathera3bya3thea3c
oncepta3ofa3usefulnessa3toa3managementa3fora3decisiona3makinga3purposes.
Diff:a31
LO:a 3 a 3 M:1-1
1
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a3Inc.

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,AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)




2
Copyrighta3©a32021a3Pearsona3Education,
a3Inc.

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,5) Financiala3reportinga3isa3typicallya3mucha3morea3detaileda3thana3manageriala3a
ccounting.a3Answer:a 3 FALSE
Explanation:a 3 a 3 Financiala3reportinga3isa3typicallya3lessa3detaileda3thana3manageriala3accountinga3informati
on.
Financiala3accountinga3reportinga3isa3usuallya3summarya3reports,a3prepareda3primarilya3ona3th
ea3companya3asa3aa3whole,a3usuallya3ona3aa3quarterlya3ora3annuala3basis.
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

6) Manageriala3accountinga3providesa3financiala3statementsa3thata3reporta3resultsa3ofa3operation
s,a3financiala3position,a3anda3casha3flowsa3botha3toa3managersa3anda3toa3externala3stockholders
.
Answer:a 3 a 3 FALSE
Explanation:a 3 Manageriala3accountinga3providesa3thea3informationa3neededa3toa3plana3anda3controla3
operationsa3anda3thereforea3servesa3thea3informationa3needsa3ofa3internala3partiesa3sucha3asa3manager
sa3anda3staff.
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

7) Whicha3ofa3thea3followinga3isa3aa3focusa3ofa3manageriala3accounting?
A) toa3generatea3aa3company'sa3financiala3statementsa3fora3taxa3reporting
B) toa3providea3informationa3toa3businessa3managersa3toa3assista3thema3ina3controllinga3theira3businesses
C) toa3providea3informationa3toa3shareholdersa3toa3assista3thema3witha3theira3investmenta3decisions
D) toa3ensurea3thata3thea3reportsa3produceda3fora3internala3anda3externala3businessa3purposesa3area3G
AAPa3complianta3Answer:a 3 B
Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)

8) Whicha3ofa3thea3followinga3statementsa3isa3truea3ofa3manageriala3accounting?
A) Thea3externala3stakeholdersa3ofa3aa3companya3area3thea3primarya3usersa3ofa3manageriala3accounting.
B) Manageriala3accountinga3informationa3isa3useda3toa3helpa3managersa3plan,a3directa3anda3controla3theira3o
perations.
C) Ana3externala3audita3bya3ana3independenta3CPAa3isa3requireda3fora3manageriala3accountinga3information
.
D) Manageriala3accountinga3informationa3musta3complya3witha3Generallya3Accepteda3Accountinga3
Principles.a3Answer:a 3 B
3
Copyrighta3©a32021a3Pearsona3Education,
a3Inc.

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, Diff:a31
LO:a 3 a 3 M:1-1
AACSB:a 3 Applicationa3ofa3knowl
edgea3AICPAa3Functional:a 3 Repo
rting
PEa3Questiona3Type:a 3 a 3 Concept
H2:a 3 a 3 Whya3Isa3Manageriala3Accountinga3Important?a3(H1)




4
Copyrighta3©a32021a3Pearsona3Education,
a3Inc.

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