Podcast
Questions and Answers
Match the internal users with the information they require:
Match the internal users with the information they require:
Research and development managers = Data on current and projected costs and revenues Purchasing managers = Data on quality and quantity of merchandise and materials purchases Human resource managers = Data on current payroll costs, employee benefits, performance and compensation Production managers = Data on costs and quality of production processes
Match the internal users with the information they require:
Match the internal users with the information they require:
Distribution managers = Data on quantity and delivery schedules Marketing managers = Data on sales and costs to effectively target consumers and set prices Servicing managers = Data on warranties and maintenance information Human resource managers = Data on current payroll costs, employee benefits, performance and compensation
Match the purpose of internal controls with the correct description:
Match the purpose of internal controls with the correct description:
Protect company property = Internal controls Ensure reliable reports = Internal controls Promote efficiency = Internal controls Encourage adherence to company policies = Internal controls
Match the internal users with the information they require:
Match the internal users with the information they require:
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Match the internal users with the information they require:
Match the internal users with the information they require:
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Majority of accounting opportunities are in public accounting.
Majority of accounting opportunities are in public accounting.
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Certified public accountant (CPA) is a professional standing denoted by a degree.
Certified public accountant (CPA) is a professional standing denoted by a degree.
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Ethics are beliefs that distinguish right from wrong.
Ethics are beliefs that distinguish right from wrong.
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GAAP aims to make accounting information irrelevant, unreliable and incomparable.
GAAP aims to make accounting information irrelevant, unreliable and incomparable.
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The AICPA and IMA have not set up ethical codes of conduct.
The AICPA and IMA have not set up ethical codes of conduct.
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Most accounting opportunities are in public accounting.
Most accounting opportunities are in public accounting.
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Certified public accountant (CPA) is a professional standing denoted by a certificate.
Certified public accountant (CPA) is a professional standing denoted by a certificate.
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Ethics are only important in accounting organizations.
Ethics are only important in accounting organizations.
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GAAP aims to make accounting information relevant, reliable, and comparable.
GAAP aims to make accounting information relevant, reliable, and comparable.
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The majority of accounting opportunities are in government agencies.
The majority of accounting opportunities are in government agencies.
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Managerial accounting is the area of accounting that serves the ______ needs of internal users.
Managerial accounting is the area of accounting that serves the ______ needs of internal users.
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Internal users require data to ______ the efficiency and effectiveness of an organization.
Internal users require data to ______ the efficiency and effectiveness of an organization.
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Internal controls are procedures designed to ______ company property, ensure reliable reports, and promote efficiency.
Internal controls are procedures designed to ______ company property, ensure reliable reports, and promote efficiency.
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Servicing managers need data on ______ and maintenance information to provide a valuable product to its customers.
Servicing managers need data on ______ and maintenance information to provide a valuable product to its customers.
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Internal controls are designed to ______ adherence to company policies.
Internal controls are designed to ______ adherence to company policies.
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What is the primary purpose of managerial accounting in an organization?
What is the primary purpose of managerial accounting in an organization?
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What type of data do research and development managers need to decide whether to pursue or continue projects?
What type of data do research and development managers need to decide whether to pursue or continue projects?
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What is the main objective of internal controls in an organization?
What is the main objective of internal controls in an organization?
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What information do marketing managers need to effectively target consumers and set prices?
What information do marketing managers need to effectively target consumers and set prices?
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Why do both internal and external users rely on internal controls?
Why do both internal and external users rely on internal controls?
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