Test Bank all Chapters, Answer at the

Managerial Accounting, 8e John Wild, Ken Shaw, Barbara Chiappetta

(Test Bank all Chapters, Answer at the end of each Chapter)

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Managerial accounting is an activity that helps managers determine the costs of an organization’s products and services, plan future activities, and compare actual results to planned results.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Control is the process of setting goals and making plans to achieve them.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Control is the process of monitoring and evaluating an organization's activities and employees.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.

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    Managerial accounting provides financial and nonfinancial information to an organization's managers.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Managerial accounting information is available quickly and without an audit, while financial accounting information is usually only available after an audit.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Managerial accounting provides information to internal users as they request it. This can be immediate and as frequent as demanded.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.

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    Marketing managers can use managerial accounting information to decide whether to advertise on social media.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Managerial accounting reports and information are used by external users, and financial accounting is used by internal users.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.Both financial and managerial accounting follow concepts and rules known as generally accepted accounting principles (GAAP) to provide consistency and comparability of financial statements across companies.True False References True / False Difficulty: 1 Easy Learning Objective: 01-C1 Explain the roles and ethics of managerial accounting.

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