1. Managerial accountingprovides all of the following financial informationexcept:

payroll summaries; budgets;production reports; monthly sales records; income statements

2. Accounting involves the _____ of the financialactivities for firms. (creation; delegating; empowering;summarizing; planning)

3. Which of the following statements about the accountingprofession is true?

1. Accountants are typically classified as private or publicaccountants.
2. Accountants cannot legally offer management consultingservices
3. Private accountants serve individuals and organizations on afee basis.
4. Public accountants work for local, state, and nationalagencies.
5. All of the above statement about the accounting profession aretrue.