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Name Chapter 1--Fundamental Concepts
Description
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Question Which of the following is true of Managerial Accounting?
Answer Complies with Securities and Exchange Commission rules and regulations.
Uses cost-benefit analysis to determine the amount of detail presented.
Prepares general-purpose reports for people outside an organization.
Presents summary historical data in compliance with generally accepted accounting principles.
Correct Feedback Uses cost-benefit analysis to determine the amount of detail presented.
Incorrect Feedback Uses cost-benefit analysis to determine the amount of detail presented.
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Question The best example of using managerial accounting information to help organizations succeed includes which of the following?
Answer implementing strategies. processing travel vouchers. tracking employee time and attendance. reconciling petty cash balances.
Correct Feedback implementing strategies.
Incorrect Feedback implementing strategies.
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Question Managerial accounting information is used by which of the following managers?
Answer marketing managers to help price products and assess their profitability. production managers to manage quality and costs and to assure on-time delivery. general managers to measure employee performance and create incentives.
All of the answers are correct.
Correct Feedback All of the answers are correct.
Incorrect Feedback All of the answers are correct.
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