What is the purpose of managerial accounting?

Managerial Accounting review

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11th Grade
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24 questions
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1.
FLASHCARD QUESTION
Front
Back
To explain the purpose of managerial accounting
2.
FLASHCARD QUESTION
Front
What is the purpose of an operational plan?
Back
To describe the purpose of an operational plan
3.
FLASHCARD QUESTION
Front
What is the primary focus of managerial accounting?
Back
Providing information to internal stakeholders for decision-making
4.
FLASHCARD QUESTION
Front
Which of the following is a characteristic of financial accounting? Reports to internal stakeholders, Flexible and tailored to internal needs, Adheres to standardized rules like GAAP or IFRS, Future-focused and operational
Back
Adheres to standardized rules like GAAP or IFRS
5.
FLASHCARD QUESTION
Front
What is the purpose of a cash budget?
Back
To track expected cash inflows and outflows
6.
FLASHCARD QUESTION
Front
What does a performance report compare?
Back
Actual results to budgeted expectations
7.
FLASHCARD QUESTION
Front
Which of the following is a characteristic of fixed costs?
Back
Remain constant regardless of production volume
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