Managerial Accounting

________ gathers, summarizes, and reports on the financial impact of changes to business

• Managerial accounting
• Planning
• Directing
• Controlling

Planning involves which of the following activities?

• Evaluating the results of operations
• Overseeing the company's day-to-day operations
• Setting goals and objectives for the company
• None of the above

Budgets are a way for managers to communicate their

• control.
• decision-making
• hiring practices
• plans

Which of the following statements is true regarding managerial accounting information?

• Managerial accounting information is audited by CPAs.
• Managerial accounting information emphasizes relevance.
• Managerial accounting information is prepared annually and quarterly.
• Managerial accounting information must be prepared in conformity with Generally Accepted

The primary goal of managerial accounting is to provide information to

• internal decision-makers.
• shareholders.
• creditors.
• both shareholders and creditors.

Managerial accountants may be responsible for

• providing decision support.
• communicating results.
• analyzing data.
• All of the above.

The standards of the IMA Statement of Ethical Professional Practice include which of the following?

• Objectivity
• Fairness
• Honesty
• Integrity

What ethical standard is being violated when you tell a friend that the company you going to report lower than expected earnings next week? going to report lower than expected earnings next week? work for is

• Credibility
• Intergrity
• Confidentiallity
• Competence

Which of the following is not one of the IMA's credibility standards?

• To disclose all relevant information
• To disclose deficiencies in internal control
• To communicate information fairly and objectively
• All of the above are part of IMA's credibility standard.

Accepting a job that you know can be better performed by someone else with the required skills

• Credibility
• Intergrity
• competency
• confidentiality