Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O b. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. O c. None of the given answers O d. Both financial accounting and management accounting involve the use of accounting information. O e. Management accounting needs to follow specific set of rules called accounting standards unlike financial accounting

Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O b. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. O c. None of the given answers O d. Both financial accounting and management accounting involve the use of accounting information. O e. Management accounting needs to follow specific set of rules called accounting standards unlike financial accounting

Auditing: A Risk Based-Approach to Conducting a Quality Audit

10th Edition

ISBN:9781305080577

Author:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Publisher:Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg

Chapter16: Advanced Topics Concerning Complex Auditing Judgments

Section: Chapter Questions

Problem 16MCQ

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Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. O b. Only financial accounting involves the use of accounting information. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O c. O d. None of the given answers Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting O e.
Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O b. None of the given answers O c. Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting O d. Management accounting reports need to be audited to verify their accuracy unlike financial accounting reports which do not need to be audited. Both financial accounting and management accounting involve the e. use of accounting information.
Which one of the following statements is not correct regarding financial accounting and management accounting? Both financial accounting and management accounting involve the use of accounting information. a. b. None of the given answers Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the С. organization. d. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. Financial accounting needs to follow specific set of rules called accounting standards unlike Management accounting e.
Which of the following statements is false? Select one: O A. Management accounting statements need not comply with Accounting regulations O B. Financial accounting statements normally reflect more detail than would be found in management accounting reports O C. Management accounting reports emphasise future activities and future costs O D. Financial accounting data are directed primarily at external users rather than internal users.
Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Management accounting reports need to be audited to verify their accuracy unlike financial accounting reports which do not need to be audited. O b. Both financial accounting and management accounting involve the use of accounting information. O c. None of the given answers O d. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting O e. S PAGE
Which one of the following statements is not correct regarding financial accounting and management accounting ? a . None of the given answers b. Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information , which focus on the consequences of past activities of the organization . c. Financial accounting needs to follow specific set of rules called accounting standards unlike Management accounting d. Both financial accounting and management accounting involve the use of accounting information . e. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited .
الوقت المتبقی 1:26:18 Which one of the following statements is not correct regarding financial ?accounting and management accounting Both financial accounting and management accounting involve the .use of accounting information Financial accounting needs to follow specific set of rules called b accounting standards unlike management accounting .a si Management accounting reports need to be audited to verify their accuracy unlike financial accounting reports which do not need to be audited .C Management accounting information emphasize supporting .d decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization None of the given answers .e
O e. OMR 363,000 CLEAR MY CHOICE Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Both financial accounting and management accounting involve the use of accounting information. O b. Management accounting needs to follow specific set of rules called accounting standards unlike financial accounting O c. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. O d. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O e. None of the given answers NEXT PAGE COURSE OUTLINE_SPRING2021 ► UIZ TWO Jump to... SQU CET_2021 O CONTACT US SQU_Old-library Building LOGUE-MO..pptx MacBook Air
V5. Match the following ____ Complexity in business operations a. Management compensation ____ Timely information b . Accounting procedure that a company ____ Information for control and uses monitoring c. Current and predictive information ____ Differential information d. Need for more specific reports ____ Accounting Policies e. Substantive information that is not in the financial reports f. Financial information must be quantitative g. Financial information not useful in reports
The area of the accounting profession that deals with providing information to meet the needs of the internal decision-makers. Select one: a. Auditing b. No correct answer c. Financial Accounting d. Management Accounting Which of the following statements are true? Select one: a. Both II & III b. Statement I: External analysis depends entirely on issued financial.Statement II: Interpretation and analysis both are different.Statement III: Financial analysis covers interpretation. c. Both I and III d. Both I & II e. I, II, III Which of the following statement is not true? Select one: a. A non-CPA may be the chief accountant of a business enterprise. b. A non-CPA may be engaged in Public accounting. c. To be a good accountant, one must have mastery of mathematics. d. A non-accounting graduate may work as a bookkeeper or accountant or accountant of a business enterprise.
All of the following is correct about Management Accounting except: a. Uses analytical tools b. None of the given Information С. Provides information that aide management. d. Primary focus on the past е. Does not have defined scope or boundary
Which of the following statement is false? 1.Financial Accounting is optional. 2.Management Accounting is used by internal users. 3.Financial Accounting is based on double entry system. 4.Management Accounting is future oriented.