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Copyright 漏 2015 Pearson Education, Inc.
Cost Accounting, 15e
(Horngren/Datar/Rajan)
Chapter 1
The Manager and Management Accounting
Objective 1.1
1) Management accounting ________.
A) focuses on estimating future revenues, costs, and other measures to forecast activities and
their results
B) provides information about the company as a whole
C) reports information that has occurred in the past that is verifiable and reliable
D) provides information that is generally available only on a quarterly or annual basis
Answer:
A
Diff: 1
Objective:
1
AACSB:
Analytical thinking
2) Managers use management accounting information to ________.
A)
help
external users such as investors, banks, regulators, and suppliers
B) communicate, develop, and implement strategies
C) communicate a firm's financial position to investors, banks, regulators, and other outside
parties
D) ensure that financial statements are consistent with the SEC rules
Answer:
B
Diff: 1
Objective:
1
AACSB:
Analytical thinking
3) Financial accounting ________.
A) focuses on the future and includes activities such as preparing next year's operating
budget
B) must comply with GAAP (generally accepted accounting principles)
C) is the process of measuring, analyzing, and reporting financial and nonfinancial
information related to the costs of acquiring or using resources in an organization
D) is prepared for the use of department heads and other employees
Answer:
B
Diff: 1
Objective:
1
AACSB:
Analytical thinking