MAS- Q1 Prelims

MAS- Q1 Prelims

University

20 Qs

quiz-placeholder

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MAS- Q1 Prelims

MAS- Q1 Prelims

Assessment

Quiz

Other

University

Practice Problem

Easy

Created by

Geezele Nequinto

Used 2+ times

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20 questions

Show all answers

1.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Although financial and managerial accounting differ in many ways, they are similar in that both rely on the same underlying financial data.

True

False

2.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Managerial accounting is a branch of financial accounting and serves essentially the same purposes as financial accounting.

True

False

3.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Managerial accounting places greater emphasis on the future than financial accounting, which is primarily concerned with the past.

True

False

4.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

Managerial accounting is not needed in a non-profit or governmental organization.

True

False

5.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

If ethical standards were not generally followed, one of the results would probably be fewer goods and services available in the marketplace.

True

False

6.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

The Standards of Ethical Conduct for Management Accountants promulgated by the Institute of Management Accountants specifically state that management accountants' sole ethical responsibility is to not break any laws.

True

False

7.

MULTIPLE CHOICE QUESTION

1 min • 1 pt

When carrying out their planning activities, managers obtain feedback to ensure that the plan is actually carried out and is appropriately modified as circumstances change.

True

False

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