MANAGERIAL ACCOUNTING EXAM 1 – SPRING 2013
_1. Managerial accounting supports the management process most significantly by:
A. measuring and reporting financial results after the fact.
B. determining the goals and objectives of the entity.
C. providing estimates of financial results for various plans.
D. establishing operating policies to be followed during a period of time.
_2. Activities included in a generally accepted definition of management accounting include:
A. planning, organizing, controlling
B. planning, operating, reporting
C. preparing, operating, creating
D. preparing, organizing, converting
_3. Which of the following activities is not part of the management planning and control
A. data collection and performance feedback.
B. implementation of plans.
C. providing information to investors and creditors.
D. revisiting plans.
4. Performance analysis in the planning and control cycle relates to the act of:
D. revising plans.
5. Which of the following statements does not describe a characteristic of management
A. Management accounting must conform to GAAP.
B. Approximate amounts rather than accurate amounts or refined estimates are often used in
C. Management accounting places a great deal of emphasis on the future.
D. Management accounting is more concerned with units of the organization rather than with the
organization as a whole.