Homework Answers
Answer.1
Option C is the correct answer.
As Managerial accounting focuses on internal users—executives, product managers, sales managers, and any other personnel within the organization who use accounting information to make important decisions. Managerial accounting often focuses on making future projections for segments of a company.
Answer.2
Option A is correct.
i.e administration expenses.
As Wages and benefits to certain employees, such as accounting and IT staff, are considered administrative expenses. All executive compensation and benefits are also considered as administrative expense.
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Managerial accounting: Select one: a. All answers are correct b. focuses on the organization as a...
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice...
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice It has its primary emphasis on the future. It places more emphasis on precision of data than financial accounting does. It focuses on the organization as a whole, rather than on the organization's segments. It is required by regulatory bodies such as the Ontario Securities Commission.
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice...
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice It is required by regulatory bodies such as the Ontario Securities Commission It has its primary emphasis on the future, It focuses on the organization as a whole, rather than on the organization's segments. It places more emphasis on precision of data than financial accounting does.
Managerial accounting is primarily focused on Select one: O A. following generally accepted accounting principles. B....
Managerial accounting is primarily focused onSelect one:A. following generally accepted accounting principles.B. providing internal special-purpose information and reports.C. providing information for internal and external users.D. providing general purpose financial statements.Which of the following phrases is most descriptive of financial accounting?Select one:A. Subject to cost-benefit analysisB. Future-orientedC. Follows GAAPD. May measure time or customer satisfactionWhich of the following phrases is primarily relevant to managerial accounting as opposed to financial accounting?Select one:A. Helping managers make decisionsB. Summarizing information about past eventsC. Calculating...
true or false Chapter 1 - A Test True/False (3 Points) 1. Managerial accounting focuses on...
true or false
Chapter 1 - A Test True/False (3 Points) 1. Managerial accounting focuses on providing historical financial information to outside shareholders and creditors. 2. A process costing system is used by companies that produce similar or identical units of product including 3. The journal entry for recording timesheet submissions by employees working on various jobs will include a debit to the Direct Labor account. 4. A company that uses process costing may use several Work-in-Process Inventory accounts 3....
Incorrect Question 5 0/0.4 pts Managerial Accounting will have an Emphasis on which one of the...
Incorrect Question 5 0/0.4 pts Managerial Accounting will have an Emphasis on which one of the Following? Segments or Sub-units of an Organization External Users of Financial Information External Reporting using GAAP Rules and Regulations • Internal Users of Financial Information 0/0.4 pts Incorrect Question 11 Which One of the following is considered an In-Direct Product Cost? Depreciation of Machinery in the Production Facility Commission Paid To Sales Employees Utility Costs in the Administration Building Hourly Wages paid to Production...
1. The field of accounting that focuses on providing information for external decision makers is: A)...
1. The field of accounting that focuses on providing information for external decision makers is: A) managerial accounting. B) financial accounting. C) cost accounting. D) nonmonetary accounting. 2. The matching principle states that: A) financial statements can be prepared for specific periods. B) a business's activities can be sliced into small time segments. C) all expenses should be recorded when they are incurred during the period. D) companies should record revenue when it has been earned. 3. ________ are the...
ER SS 11. All of the following are examples of managerial accounting information excepr: a budget...
ER SS 11. All of the following are examples of managerial accounting information excepr: a budget versus actual reports. b. monthly income statement for each store, c. monthly analysis of product profitability. d. annual balance sheet prepared in accordance with U.S. GAAP. e. None of the above. NOT A 12. When comparing the characteristics of financial and managerial accounting, which of the following is a focus of managerial accounting? a. Making future projections for geographic segments of a company. b....
Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake...
Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake bakery, Able Baker Charlie Company, to produce and sell different flavored cheesecakes to restaurants and the general public. He has just begun his study of accounting, and is a bit confused about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarify what the differences between managerial accounting and...
Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake...
Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake bakery, Able Baker Charlie Company, to produce and sell different flavored cheesecakes to restaurants and the general public. He has just begun his study of accounting, and is a bit confused about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarify what the differences between managerial accounting and...
6) 6) Which of the following is troe sbout the International Accoumting Staedards Board (IASB)? A)...
6) 6) Which of the following is troe sbout the International Accoumting Staedards Board (IASB)? A) The goal of the lASB is to develop a single set of high quality, understandable enforceable, and globally accepted financial reporting standards based upon clearly articulated principles B) The LASB has been working with the FASB in recent years to achieve C) The SEC has delegated full authority to the lASB to be the accounting standards D) All of the above are correct convergence...
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice It has its primary emphasis on the future. It places more emphasis on precision of data than financial accounting does. It focuses on the organization as a whole, rather than on the organization's segments. It is required by regulatory bodies such as the Ontario Securities Commission.
Which of the following best describes the function of managerial accounting within an organization? Multiple Choice It is required by regulatory bodies such as the Ontario Securities Commission It has its primary emphasis on the future, It focuses on the organization as a whole, rather than on the organization's segments. It places more emphasis on precision of data than financial accounting does.
true or false
Chapter 1 - A Test True/False (3 Points) 1. Managerial accounting focuses on providing historical financial information to outside shareholders and creditors. 2. A process costing system is used by companies that produce similar or identical units of product including 3. The journal entry for recording timesheet submissions by employees working on various jobs will include a debit to the Direct Labor account. 4. A company that uses process costing may use several Work-in-Process Inventory accounts 3....
Incorrect Question 5 0/0.4 pts Managerial Accounting will have an Emphasis on which one of the Following? Segments or Sub-units of an Organization External Users of Financial Information External Reporting using GAAP Rules and Regulations • Internal Users of Financial Information 0/0.4 pts Incorrect Question 11 Which One of the following is considered an In-Direct Product Cost? Depreciation of Machinery in the Production Facility Commission Paid To Sales Employees Utility Costs in the Administration Building Hourly Wages paid to Production...
ER SS 11. All of the following are examples of managerial accounting information excepr: a budget versus actual reports. b. monthly income statement for each store, c. monthly analysis of product profitability. d. annual balance sheet prepared in accordance with U.S. GAAP. e. None of the above. NOT A 12. When comparing the characteristics of financial and managerial accounting, which of the following is a focus of managerial accounting? a. Making future projections for geographic segments of a company. b....
Mastery Problem: Introduction to Managerial Accounting Able Baker Charlie Company Charles Maxwell is starting a cheesecake bakery, Able Baker Charlie Company, to produce and sell different flavored cheesecakes to restaurants and the general public. He has just begun his study of accounting, and is a bit confused about the many types of reports he has read about and how they will help him run his business. He asks you to help him clarify what the differences between managerial accounting and...
6) 6) Which of the following is troe sbout the International Accoumting Staedards Board (IASB)? A) The goal of the lASB is to develop a single set of high quality, understandable enforceable, and globally accepted financial reporting standards based upon clearly articulated principles B) The LASB has been working with the FASB in recent years to achieve C) The SEC has delegated full authority to the lASB to be the accounting standards D) All of the above are correct convergence...
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