Managerial accounting need not to adhere the GAAP.
Hence correct answer is option no.(a)
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Which of the following is not a characteristic of useful managerial accounting reports? Oa. GAAP-adhering Ob...
Managerial accounting reports are prepared: Oa. to provide creditors with information useful in making credit decisions. Ob. to meet the needs of decision makers within the firm. Oc. to present historical information. Od. All of these choices are correct.
How often should managerial accounting reports be prepared? O A. Quarterly OB. Monthly OC. Annually OD. As often as necessary Click to select your answer.
Which of the following statements represents a similarity between financial and managerial accounting? Both are useful in providing information for external users. Both are governed by GAAP. Both draw upon data from an organization's accounting system. Both rely heavily on published financial statements. Both are solely concerned with historical transactions.
Which of the following is a major subsystem of the cost accounting information system? Oa. ERP Ob. EDI Oc. Operational control information system Od. OLAP C Which of the following is a cost management subsystem designed to assign costs to individual products and services and other objects, as specified by management? Oa, cost accounting information system Ob, financial accounting information system Oc operational control information system Od. All of these choices are correct. In a company that supplies muffins to...
Which of the following is not a characteristic of financial accounting? Multiple Choice Reports are prepared periodically. Financial reports are prepared according to GAAP. Information is used by external parties. Information is subjective, relevant and future-oriented
Question 4 (2 points)E hich of the following is true of managerial accounting? The primary users of managerial accounting reports are external users Managerial accounting reports are internat reports issued as frequently as the need arises . The purpose of managerial accounting reports is to provide general purpose financial information for all users. Managerial accounting reports must be prepared according to GAAP Save Question 5 12 points B Which of the following is true of managerial accounting? The primary users...
Which of the following is a difference between managerial and financial accounting? A. Managerial accounting reports non-monetary information whereas financial accounting reports both monetary and non-monetary information. B. Managerial accounting prepares reports monthly whereas financial accounting prepares reports annually. C. Managerial information is confidential whereas financial accounting information is publicly available. D. Managerial accounting is used by government authorities whereas financial accounting is used by stockholders.
Take me to the textIndicate whether the following statements describe financial accounting or managerial accounting.Largely based on forecasting future sales and cash flows, calculating costs and preparing budgets.is concerned with collecting data of historical nature.Reports are very detailed and provide a wealth of information.Must follow Generally Accepted Accounting Principles (GAAP) or International Financial Reporting Standards (IFRS) set by professional bodies.Primarily prepared for external users such as creditors and stockholders so that they can make sound financial or investment decisions.Does not...
When comparing financial and managerial accounting, which of the following apply to managerial accounting? Check all that apply. 0 Information reported for whole company 0 Emphasizes the future Objective and reliable O Reports at the decision making level Mandatory for external reports 0 Reports are prepared as needed Do you know the answer? Read about this I know it Think so Unsure Unsure No idea
Which of the following is a factor of production? OA) Money OB) Service OC) Bonds OD) Knowledge