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Social Studies, Business
University
ACC2093 Lesson 1.1: Managerial vs Financial Accounting
10 questions
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- 1. Multiple Choice
Who is the user of managerial accounting information?
Investors
Managers
Creditors
Business competitors
- 2. Multiple Choice
What is the example of information that a managerial accountant will share to the decision makers to help them making decision?
The past financial performance
The company's profits reported several years ago
The anticipated profits or losses from a decision to be made
The name of the company
- 3. Multiple Choice
"Business transaction derived from business documents", this describe which process of accounting?
Decision making
Identifying
Reporting
Auditing
- 4. Multiple Choice
What could happen when there is no (absence of) managerial accountant in a business organisation?
Company will save money from paying managerial accountant's salary
The good name of the company would turned worse
The managers will loose their job
The managers will find its hard to make business decision
- 5. Multiple Choice
Which of the following is NOT part of the accounting process?
Identifying financial matters.
Recording financial transactions.
Reporting financial events.
Increase the income of the company.
- 6. Multiple Choice
What is a similarity between Managerial Accounting and Financial Accounting?
Both report to the same group of accounting users.
Both reporting past financial events.
Both providing information for decision making purposes.
Both using the same accounting standards of MASB.
- 7. Multiple Choice
When Managerial Accounting report is needed to be prepared?
Once a year
Every month
Whenever cost accountant has free time
Whenever required by manager
- 8. Multiple Choice
Which accounting reports mainly to the people outside of the business?
Managerial Accounting
Financial Accounting
- 9. Multiple Choice
Which accounting that reports to people within the business organizations (typically managers)?
Managerial Accounting
Financial Accounting
- 10. Multiple Choice
Which accounting reports on the past events?
Managerial Accounting
Financial Accounting
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