Participation 1 -SOLUTION - ACCOUNTING 203 ON-LINE...

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ACCOUNTING 203 ON-LINE PARTICIPATION EXERCISE #1 SOLUTION 1. Management accounting A) deals primarily with people and organizations outside of the business entity. B) requires only periodic reporting on a regular basis. C) uses any type of useful measurement unit, including physical as well as monetary measures. D) deals only with the double-entry recording system. 2. Which of the following types of information is not essential for a manager to run a business effectively? A) Product or service costing information B) Data for planning and controlling of operations C) Special reports and analyses to support decisions D) Quote of the current price of the company's stock 3. Which of the following is a characteristic of management accounting? A) It must follow generally accepted accounting principles. B) It is used primarily by internal users. C) It is concerned primarily with reporting past performance. D) It uses historical costs as the sole measurement unit. 4. In comparing management accounting with financial accounting, which of the following statements is true ? A)
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This note was uploaded on 02/10/2011 for the course ACCOUNTING 202 taught by Professor William during the Winter '08 term at Edmonds Community College.

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Participation 1 -SOLUTION - ACCOUNTING 203 ON-LINE...

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