1) Which of the following statements is true of management accounting? A) The external stakeholders of a company are the primary users of management accounting. B) An external audit by an independent CPA is required for management accounting information. C) Management accounting information must comply with Generally Accepted Accounting Principles. D) Management accounting information is used to help managers plan and control their operations. 2) Managerial accounting includes the planning function. Which of the following items would be part of the planning function of a business's managerial accounting A) evaluating results of operations B) comparing actual performance to previously budgeted amounts C) creating detailed budgets D) implementing operational plans 3) Which of the following is the primary objective of managerial accounting? A) providing information that managers need to make operational decision:s B) providing information to comply with laws and regulations of government bodies C) providing historical data to investors and creditors D) providing summarized results of operations 4) Variable cost per unit, within the relevant range, will A) remain the same as production levels change B) decrease as production increases C) decrease as production decreases D) increase as production decreases 5) Which of the following is a variable cost? A) straight-line depreciation expense B) property taxes C) direct materials cost D) salary of plant manager