100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
Financial and Managerial Accounting for MBAs 6th Edition Easton $17.99   Add to cart

Exam (elaborations)

Financial and Managerial Accounting for MBAs 6th Edition Easton

 2 views  0 purchase
  • Course
  • Institution
  • Book

Financial and Managerial Accounting for MBAs 6th Edition Easton

Preview 2 out of 6  pages

  • September 13, 2024
  • 6
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
avatar-seller
Solutions Manual For Financial and Managerial
Accounting for MBAs 6th Edition Easton

Managers' three primary responsibilities are planning, direction, and controlling. -
ANSWER:True

Management accounting is geared toward external stakeholders, such as investors
and creditors. - ANSWER:False

Management accountants often work in cross-functional teams throughout the
organization. - ANSWER:True

The internal audit function reports to the audit committee of the board of directors.
- ANSWER:True

Management accountants are now more often looked upon as internal business
advisors, rather than "bean counters" recording historical transactions. -
ANSWER:True

Management accountants should be technically proficient, but they don't need
strong oral and written communication skills. - ANSWER:False

Management accountants should be proficient in Excel. - ANSWER:True

The AICPA (American Institute of Certified Public Accountants) issues the CMA
(Certified Management Accountant) certification. - ANSWER:False

The Sarbanes-Oxley Act of 2002 (SOX) imposes stricter requirements over financial
reporting and internal controls and stricter consequences for those who engage in
financial statement
misconduct and other white-collar crimes. - ANSWER:True

U.S. companies that have operations overseas must use the International Financial
Reporting Standards (IFRS) to issue their financial statements. - ANSWER:False

Extensible Business Reporting Language (XBRL) is a standardized coding system that
allows financial information to be "tagged" so that it can be read by computer
programs. - ANSWER:True

The triple bottom line assesses company performance on three factors: people
(social impact), planet (environmental impact), and profit (economic impact). -
ANSWER:True

Manufacturing makes up the largest sector of the U.S. economy. - ANSWER:False

, The globalization of business has little bearing on management accounting. -
ANSWER:False

Computer systems that integrate all of a company's worldwide functions into one
database are known as Integrated Worldwide Systems (IWSs). - ANSWER:False

Lean thinking focuses on eliminating waste from operations in an effort to reduce
costs. - ANSWER:True

The ISO 9001:2008 certification focuses on environmental management. -
ANSWER:False

Identifying alternative courses of action and choosing among them -
ANSWER:Decision Making

Running the company on a day-to-day basis - ANSWER:Directing

Determining whether the company's units are operating according to plan -
ANSWER:Controlling

Setting goals and objectives for the company and determining strategies to achieve
them - ANSWER:Planning

Describes historical transactions with external parties - ANSWER:Financial
Accounting

Is not required by any authoritative body, such as the SEC - ANSWER:Managerial
Accounting

Reports on the company's subunits, such as products, geographical areas, and
departments - ANSWER:Managerial Accounting

Is intended to be used by creditors and investors - ANSWER:Financial Accounting

Is formatted in accordance with GAAP - ANSWER:Financial Accounting

Do not disclose company information unless authorized to do so. -
ANSWER:Confidentiality

Continue to develop skills and knowledge. - ANSWER:Competence

Don't bias the information and reports presented to management. -
ANSWER:Credibility

If you do not have the skills to complete a task correctly, do not pretend you do. -
ANSWER:Competence

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller kushboopatel6867. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $17.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

72042 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling

Recently viewed by you


$17.99
  • (0)
  Add to cart