Managerial Accounting Principles and Concepts Quiz
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Questions and Answers

Why is managerial accounting important for a company?

  • To measure and analyze financial information.
  • To plan and control a company’s operations.
  • To communicate financial information.
  • All of the above. (correct)
  • Which of the following best describes managerial accounting?

  • The process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, control, and evaluate a company’s operations. (correct)
  • The process of identifying, measuring, and analyzing financial information needed by management to plan, control, and evaluate a company’s operations.
  • The process of identifying, measuring, analyzing, and communicating financial information needed by management to evaluate a company’s operations.
  • The process of identifying, measuring, analyzing, and communicating financial information needed by management to plan and control a company’s operations.
  • What is the main purpose of managerial accounting?

  • To control and evaluate a company’s operations.
  • To plan, control, and evaluate a company’s operations. (correct)
  • To analyze and communicate financial information.
  • To identify and measure financial information.
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