9. Managerial accounting stresses that the information provided should be useful to decision makers such as creditors and shareholders. A) True B) False 10. Financial accounting is concerned with presenting results of past transactions, while managerial accounting places considerable emphasis on the future. A) True B) False 11. The financial plans prepared by managerial accountants are referred to as A) financial statements. B) treasurer's reports. C) budgets. D) controller's opinions. 12. Which of the following is not a reason that current period performance results may differ from the company's budget for that period? A) The plan may not have been well thought-out. B) Changing circumstances may have made the plan out of date. C) The plan may not have been followed properly. D) All of the above are reasons that actual results may differ from the company's plan. 13. Performance reports often compare current performance with A) a competing company's performance. B) performance in a prior period or budgeted performance. C) shareholders' expected level of performance. D) industry standards. Wilson Company's managers investigate departures from the budget that appear to be significant. What principle is being followed? A) Small amounts do not matter B) Management by exception - Incremental analysis You get what you measure