chapter-1

Accounting is divided into _________ categories

• 1

• 2

• 3

• 4

Who are the stakeholders of the organization?

• Share holders

• Managers

• Creditors

• all of the options

"any form of accounting which enables a business to be conducted more efficiently"- who defined ?

• The Chartered Institute of Management Accountants

• Institute of Chartered Accountants of England

• ACCA

• None of the options

Management accounting information can help managers identify ----------, solve ---------- and evaluate performance.

• Help, problems

• problems, Help

• Help, Help

• problems, problems

The role of management accounting does not normally include the function of

• Decision-making

• Cash management

• Formulating corporate strategy

• Planning and control

The role of financial management does not usually include responsibility for

• Corporate finance

• Risk management

• Compliance with accounting standards

• Treasury management

Which phrase best describes the current role of the managerial accountant? 

• a.Managerial accountants prepare the financial statements for an organization.

• a.Managerial accountants facilitate the decision-making process within an organization.

• a.Managerial accountants make the key decisions within an organization.

• a.Managerial accountants are primarily information collectors. 

• a.Managerial Accountants are solely staff advisors in an organization.

The use of management accounting is_____

• a)Compulsory to some and optional to others

• a)Legally obligatory

• a)Compulsory

• a)Optional