Which of the following statements is true of managerial accounting?
a. The external stakeholders of a company are the primary users of managerial accounting.
b. Managerial accounting information is used to help managers plan and control their operations.
c. An external audit by an independent CPA is required for managerial accounting information.
d. Managerial accounting information must comply with Generally Accepted Accounting Principles.
Which of the following statements is true of managerial accounting?
a. The external stakeholders of a company are the primary users of managerial accounting.
b. Managerial accounting information is used to help managers plan and control their operations.
c. An external audit by an independent CPA is required for managerial accounting information.
d. Managerial accounting information must comply with Generally Accepted Accounting Principles.
Related questions
Managerial accounting information is restricted by which of the following authorities or principles?
| a. | Value Added Principle | |
| b. | Generally Accepted Accounting Principles | |
| c. | Securities and Exchange Commission | |
| d. | Financial Accounting Standards Board |
Which of the following costs is not considered to be an inventory (product) cost?
| a. | Raw material | |
| b. | Production wages | |
| c. | Depreciation of delivery vehicles | |
| d. | Factory utilities |
Which of the following is a characteristic of managerial accounting information?
| a. | It is historically based. | |
| b. | It is regulated by the SEC. | |
| c. | It is directed to external users. | |
| d. | It involves continuous reporting. |
Carson Manufacturing Company recognized accrued compensation for sales staff. Which of the following choices accurately reflects how this event would affect the company's financial statements?
| a. | decrease one asset account and decrease an equity account. | |
| b. | increase one asset account and decrease another asset account. | |
| c. | increase one liability account and increase an asset account. | |
| d. | increase one liability account and decrease an equity account. |
