ATTEMPT ALL OBJEC 1- All of the following are features of managerial accounting except: A) information is provided primarily to insiders such as managers. B) information includes economic and non-financial data as well as financial da C) information is characterized by objectivity, reliability, consistency, and accu D) information is reported continuously with a present or future orientation. 2- Choose the answer that is not a distinguishing characteristic of financial accoun A) It is global information that reflects the performance of the whole company. B) It is focused primarily on the future. C) It is more concerned with financial data than physical or economic data. D) It is more highly regulated than managerial accounting information. 3- Which of the following costs would be classified as a direct cost for a company A) Rent of manufacturing facility that produces motorcycles. B) Seats used in the motorcycles. C) Wages of motorcycle assembly workers. D) Both seats used in the motorcycles and wages of motorcycle assembly worke 4- Purposes of an accounting system includes all of the following except: A) Interpret and record the effects of business transactions. B) Classify the effects of transactions to facilitate the preparation of reports. C) Summarize and communicate information to decision makers D) Dictate the specific types of business transactions that the enterprise may eng 5- Net income will result during the time period when A) Assets exceed liabilities B) Revenues exceed expenses C) Expenses exceed revenue D) Assets exceed revenues. 6- Which of the following is not the main objective of accounting? A) Solving tax disputes with tax authorities B) Systematic recording of transactions C) Ascertaining profit or loss D) Ascertainment of financial position