For each of the following, indicate whether the statement is True or False.

a. Storyboarding is a financial accounting chart of accounts used by major corporations to prepare financial statements.

b. If a manager wants to visually report the frequency of supplier returns due to poor quality, wrong shipments, or incorrect prices, the manager could use a histogram to show the relative results.

c. Lower level managers typically would receive frequent reports identifying issues such as employee absences, unused warehouse capacity, machine  stoppage incidents, information security breaches, and vendor problems.

d. Higher level managers typically would receive daily reports identifying payments made by each customer, number of on-time deliveries to customers, and surveys of customer satisfaction.

e. If a company sends all outgoing correspondence by certified mail, the results would probably be very effective, but not efficient.

f. If a sales call center employee answers customer complaints more quickly per call than budgeted, but many customers have to call back because the employee did not properly resolve the customer’s concern or problem, the employee was efficient but ineffective.

g. Projections of class enrollment for the upcoming period by a college would be recorded and reported under both financial and managerial accounting.

h. The number of defective units in a manufacturing plant would be relevant for managerial accounting, but would not be reported under financial accounting.

i. Managerial accounting emphasizes relevant data, cost-benefit analysis, and both quantitative and qualitative data.

j. Manufacturers and retailers primarily use managerial accounting, but service firms do not need managerial accounting because they do not have products or inventory.

k. Predictive analytics is the simplest form of analytics, and often summarizes past trends in the business.

l. Text data (like comments left on social media sites) is an example of unstructured data.