DPA40113 Chapter 1

Management accounting is also known as ________________

• Price level accounting

• Historical cost accounting

• Financial accounting

• Decision accounting

Generally, managerial accounting is focused on ___________, control and internal decision making

• auditing

• income taxes

• planning

• directing

Which of the following words complete the statement below?

_____________ accounts are prepared for external stakeholders. Management accounts are prepared for ___________________ stakeholders

• Shadow, Internal

• Financial, Internal

• Financial, External

• Internal, Budget

Which of the following are characteristics of Management Accounting Information?

• Relevant

• Understandability

• Comparability

• All above

Purpose of management accounting is to

• Help investors make decisions

• Help bank make decisions

• Past orientation

• Help managers make decisions

Which of the following does not represents the characteristics of Management Accounting?

• Helps in finding out cost of products and control costs

• Measures the operating efficiency of the enterprise

• Helps in identifying the financial position of the business

• Process of determining and accumulating the cost of products or activity

What is the roles of management accountant?

• Provide information and accounting reports

• Responsible for carrying out the task of helping the management

• Assist departments in achieving the organization objectives.

• All of above

The goal of managerial accounting is to provide the information that managers need for all of the following except:

• Planning

• Control

• Decision Making

• Review

Which are true about Managerial Accounting

• Is directed an internal users

• Must comply with GAAP standards

• Presents very detailed information

• Presents only monetary information

• Places emphasis on future

In management accounting, an emphasis and focus must be

• future oriented

• bank oriented

• communication oriented

• past oriented