Managerial accounting information for a company is primarily used by ________
A) its customers to understand the pricing of the product
B) its creditors to understand the credibility of the business
C) its employees to plan and control operations
D) its investors to make their investment decisions
C
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A business that uses the same accounting methods year after year is following the consistency principle
Indicate whether the statement is true or false
An example of a process where all of the materials would be added at the end of the process would be:
a. A bakery where the ingredients for bread are combined and left to rise. b. The second process of a snack factory where snack chips coming from the frying process are cooled and dried for an hour, then bagged. c. A baker where the wet ingredients for a cake are added one-at-a-time after the dry ingredients have been thoroughly blended. d. None of the above.
When Dimock Construction's Designer House #10 is completed, Dimock's
a. work in process is increased. b. total assets are increased. c. work in process is decreased. d. total assets are decreased.
The use of self-reward strategies may be useful for persons who are:
a. quick to criticize others b. quick to criticize themselves c. not feeling self-doubt d. don’t feel guilt about doing bad