Question
1. One commonality between financial and managerial accounting is the a. Focus on past events and present condition b. Purpose to provide for the needs
1. One commonality between financial and managerial accounting is the
a. Focus on past events and present condition
b. Purpose to provide for the needs of the users
c. Purpose of providing information to external stakeholders
d. Emphasis on planning
e. None of the above
2. The managerial accountant must Provide decision support information and recommendations that are accurate, clear, concise, and timely. According to the IMA Statement of Ethical Professional Practice, this is included in the category of
a. Competence
b. Confidentiality
c. Integrity
d. Credibility
e. None of the above
3. In managerial accounting, ERM is
a. The process of identifying risks and developing responses to them
b. The requirement that executive pay is allocated across subsidiary units
c. An employee incentive plan that encourages goal congruence
d. All of the above
e. None of the above
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