10 Questions
Which type of accounting provides product cost information to external users such as stockholders, creditors, and investors?
Financial Accounting
What is the main focus of managerial accounting?
Planning and control for internal parties
Which type of accounting measures, records, and reports information about costs?
Cost Accounting
Which type of accounting reports an enterprise as a whole?
Financial Accounting
Which type of accounting is concerned with providing financial information to external users such as the government and those who provide funds?
Financial Accounting
True or false: Cost accounting provides product cost information to internal parties such as managers for planning and control.
True
True or false: Financial accounting emphasizes relevance, timeliness, verifiability, and being free from bias.
True
True or false: Managerial accounting focuses on providing financial information to external users such as the government and those who provide funds.
False
True or false: Cost accounting measures, records, and reports information about costs.
True
True or false: Financial accounting reports an enterprise as a whole.
True
Test your knowledge on cost accounting with this quiz! Learn about the importance of cost measurement, recording, and reporting in informing management decisions. Explore how cost accounting is used by both financial and managerial accounting and provides valuable information to external users.
Make Your Own Quizzes and Flashcards
Convert your notes into interactive study material.
Get started for free
