GNBExam01

GNBExam01 - GNB 12e Practice Exam Chapter 1 1. For each of...

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GNB 12e Practice Exam – Chapter 1 1. For each of the following, indicate whether the description more closely relates to managerial accounting or financial accounting: Manageri al Accounti ng Financial Accountin g Focuses on external uses of information X Is typically bound by the requirements of GAAP X Is generally more detailed information produced frequently X Typically focuses on segments of the organization X Often uses estimation in order to meet needs for timeliness X Focuses on the historical performance of the company X Objectivity and reliability of information foremost X GAAP not mandatory X Oriented toward future decision making X Often mandatory information X Prepared primarily for internal users X 2. Indicate beside each statement below whether it is True (T) or False (F): a. F Informal as well as formal relationships within an organization are usually depicted on an organization chart. Formal relationships only are typically included.
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This note was uploaded on 07/15/2010 for the course ECON 137A taught by Professor Watson during the Fall '08 term at UCSB.

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GNBExam01 - GNB 12e Practice Exam Chapter 1 1. For each of...

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