1. Managerial accounting information is generally prepared for

a. stockholders.

b. creditors.

c. managers.

d. regulatory agencies.

2. Managerial accounting information

a. pertains to the entity as a whole and is highly aggregated.

b. pertains to subunits of the entity and may be very detailed.

c. is prepared only once a year.

d. is constrained by the requirements of generally accepted accounting principles.

3. The major reporting standard for presenting managerial accounting information is

a. relevance.

b. generally accepted accounting principles.

c. the cost principle.

d. the current tax law.

4. Managerial accounting is also called

a. management accounting.

b. controlling.

c. analytical accounting.

d. inside reporting.

5. Which of the following is not an internal user?

a. Creditor

b. Department manager

c. Controller

d. Treasurer

6. Managerial accounting does not encompass

a. calculating product cost.

b. calculating earnings per share.

c. determining cost behavior.

d. profit planning.

7. Managerial accounting is applicable to

a. service entities.

b. manufacturing entities.

c. not-for-profit entities.

d. all of these.

8. Management accountants would not

a. assist in budget planning.

b. prepare reports primarily for external users.

c. determine cost behavior.

d. be concerned with the impact of cost and volume on profits.

9. Internal reports must be communicated

a. daily.

b. monthly.

c. annually.

d. as needed.

10. Financial statements for external users can be described as

a. user-specific.

b. general-purpose.

c. special-purpose.

d. managerial reports.