Managerial Accounting review

Managerial Accounting review

Assessment

Flashcard

Fun

11th Grade

Hard

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24 questions

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1.

FLASHCARD QUESTION

Front

What is the purpose of managerial accounting?

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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