CH1quizkey - Chapter 1 quiz 1 * Management accounting: a....

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Chapter 1 quiz 1 Management accounting: * a. focuses on estimating future revenues, costs, and other measures to forecast activities and their results b. provides information about the company as a whole c. reports information that has occurred in the past that is verifiable and reliable d. provides information that is generally available only on a quarterly or annual basis 2. Financial accounting: a. focuses on the future and includes activities such as preparing next year's operating budget * b. must comply with GAAP (generally accepted accounting principles) c. reports include detailed information on the various operating segments of the business such as product lines or departments d. is prepared for the use of department heads and other employees 3. Which of the following descriptors refers to management accounting information? a. It is verifiable and reliable. b. It is driven by rules. c.
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CH1quizkey - Chapter 1 quiz 1 * Management accounting: a....

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