COMM 305 Assignment 1

COMM 305 Assignment 1 - Question 1 Reports prepared in...

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Question 1
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Reports prepared in managerial accounting are general-purpose reports, whereas reports prepared in financial accounting are usually special-purpose reports. True False Managerial accounting information generally pertains to an entity as a whole and is very detailed. False True Managerial accounting applies only to manufacturing companies. False True Managerial accounting internal reports are prepared less frequently than are classified financial statements. True False The management function of planning is mainly concerned with setting goals and objectives for the entity.
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True False Directing is the process of determining whether planned goals are being met. False True Decision-making is an integral part of the planning, directing and motivating functions, but not of the controlling function. False True Management accounting is a sub-discipline within accounting focusing solely on the provision of economic and financial information for external users. True False A primary outcome of managerial accounting is the determination of costs for manufactured items and services. False
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True Companies rely upon management accountants to collect non-financial information in order to assess how well the companies' resources are being used. False True Managerial accounting places emphasis on special-purpose information. is governed by generally accepted accounting principles. pertains to the entity as a whole and is highly aggregated. is concerned with costing products. What broad functions do the management of an organization perform?
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Planning, manufacturing and controlling Directing, manufacturing, and controlling Planning, directing, and selling Planning, directing, and controlling Which of the following is true? Corporate fraud was found to have decreased between the years 1998 and 2003. Expense account abuse has been cited as one of the rarest forms of unethical employee
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COMM 305 Assignment 1 - Question 1 Reports prepared in...

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