Which of the following statements is true?
A) External and internal users of accounting information have exactly the same information needs.
B) Financial accounting is less flexible than managerial accounting.
C) Managerial accounting provides the best information to external users.
D) Managerial accounting emphasizes on the organization as a whole more than financial accounting.
B
You might also like to view...
The comparative balance sheets of Midnite Corp for 2015 and 2014 indicate that short-term trade notes receivable increased from $5,000 in 2014 to $75,000 in 2015 . How will this change be reported on Midnite's statement of cash flows, if Midnite uses the indirect method?
a. It will be included in the amount of cash and cash equivalents at the end of 2015. b. It will be reported as a deduction from net income in the operating activities section. c. It will be reported as a cash outflow in the investing activities section. d. It will be added to net income in the operating activities section.
Which of the following might be detected by an auditor's review of the entity's sales cutoff?
A. Excessive goods returned for credit. B. Lapping of year-end accounts receivable. C. Unrecorded sales discounts. D. Overstated sales for the year.
In industrial marketing situations, ________ are often used as beta test sites, where new products are tested and debugged
A) innovators B) early majority C) late majority D) laggards
Which statement about the correlation coefficient, r, is true?
A) The calculation of r assumes that X and Y are metric variables whose distributions have the same shape. B) The correlation coefficient computed for a population is denoted by ?(rho). C) Data obtained by using rating scales with a small number of categories tends to deflate r. D) All of the statements are true.