Which of the following statements is false? Managerial accounting is concerned with providing information to managers for use within the organization. Managerial accounting emphasizes decisions affecting the future, relevance, timeliness, and segment performance. Managerial accounting is not mandatory and does not need to comply with externally imposed rules. Managerial accounting serves the needs of those outside the organization. Managerial accounting helps managers perform three vital activities: planning, controlling, and decision making. O O O O O

Which of the following statements is false? Managerial accounting is concerned with providing information to managers for use within the organization. Managerial accounting emphasizes decisions affecting the future, relevance, timeliness, and segment performance. Managerial accounting is not mandatory and does not need to comply with externally imposed rules. Managerial accounting serves the needs of those outside the organization. Managerial accounting helps managers perform three vital activities: planning, controlling, and decision making. O O O O O

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...

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Explain how managerial accountants help managers plan, control, and evaluate.
Components of the organization that are demotivating for purposes of performance management are known as ______. A. business goals B. strategic plans C. uncontrollable factors D. incentives
There are individuals who are under the impression that managerial accounting provides services mainly for manufacturing organizations. Are they correct? Explain.
Should a managerial accounting system provide both financial and nonfinancial information? Explain.
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.
All of the following are examples of managerial accounting activities except ________. A. preparing external financial statements in compliance with GAAP B. deciding whether or not to use automation C. making equipment repair or replacement decisions D. deciding whether or not to use automation
ORGANIZATION STRUCTURE AND SPAN OF CONTROL Refer to the organization charts labeled Structure A and Structure B in the figure for problem 12. Required a. For the organizational structure A, describe the 1. advantages and disadvantages of this structure. 2. impact of the resulting span of control. 3. effect of the organizational structure on employee behavior. b. For the flat organizational structure B, describe the 1. advantages and disadvantages of that organizational structure. 2. impact of the resulting span of control. 3. effect of the organizational structure on employee behavior. c. When determining the appropriate span of control for a company, discuss the factors that should be considered.
Who are the primary users of the information gathered by managerial accountants?
ORGANIZATION STRUCTURE AND SPAN OF CONTROL Refer to the organization charts labeled Structure A and Structure B in the figure for problem 11. Required a. For organizational structure A, describe the 1. advantages and disadvantages of this structure. 2. impact of the resulting span of control. 3. possible effect on employee behavior. b. For organizational structure B, describe the 1. advantages and disadvantages of this structure. 2. impact of the resulting span of control. 3. effect on employee behavior. c. When determining the appropriate span of control, discuss the factors that should be considered.
Which of the following statements is incorrect? The practice of management accounting is fairly flexible. The information gathered from management accounting is not required by law. Management accounting focuses mainly on the internal user. Reports produced using management accounting must follow GAAP.
What should an organization do if performance measures change? A. Make sure that the manager being evaluated is aware of the measurement change, as this may affect his or her decision-making. B. Make sure that the manager benefits without the corporation also benefitting. C. Make sure that there are significant overriding opportunities for each manager, if the manager is unaware of the change. D. Obtain customer surveys on the change before communicating the change to the manager.