a. 1. Management accounting aids creditors to monitor and evaluate a firm's performance. b. is used to help management to make decisions. is valuable for internal and external users. d. requires third-party auditors to verify technical reports. e. is a synonym for cost accounting. c. 2. Financial accounting a. focuses on the future and includes activities such as preparing next year's capital expendtire budget. b. is prepared for the use of department heads and other employees. c. reports include detailed information on the various operating segments of the business such as product lines or departments. d. must comply with international or private accounting reporting standards like IFRS or ASPE. e. is primarily concerned with profitability analysis. 3. In designing strategy, a company must match the opportunities and threats in the marketplace with a. those set by the CFO (Chief Executive Officer). b. its resources and capabilities. c. branding opportunities. d. capabilities of current suppliers. its rivals. e. 4. Which of the following is a cost object? a. indirect materials b. customers C. costs of conversion d. cost assignments e direct labour 5. a. Whether a company traces costs directly to an output unit or not depends upon the materiality of the contribution a cost makes to the total cost per output unit. b. the amount of similar costs in the cost assignment. the effect of cost tracing on overhead. d. the employment of cost management. the amount of customer satisfaction. C. e