Managerial Accounting Quiz
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Questions and Answers

Which type of accounting primarily concerns providing information to people inside an organization who direct and control its operations?

  • Financial accounting
  • Managerial accounting (correct)
  • Cost accounting
  • Tax accounting
  • Which type of accounting primarily concerns providing information to shareholders, creditors, and others who are outside an organization?

  • Cost accounting
  • Managerial accounting
  • Financial accounting (correct)
  • Tax accounting
  • Which type of accounting focuses on a limited set of specific quarterly and annual financial statements prepared in accordance with generally accepted accounting principles (GAAP) and government regulations?

  • Managerial accounting
  • Cost accounting
  • Financial accounting (correct)
  • Tax accounting
  • What is a budget in the context of managerial accounting?

    <p>A detailed plan for the future expressed in formal quantitative terms</p> Signup and view all the answers

    What are the major tasks performed by managers in an organization?

    <p>Planning, Directing, and Motivating</p> Signup and view all the answers

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