1. In the context of managerial accounting, relevant information
   1. is information that will make a difference in the decision.
   2. is information that has been provided by the controller.
   3. must be provided in quantitative terms.
   4. must be reviewed by the chief financial officer before being provided to managers.

2. Good managerial accounting information helps
   1. creditors decide on good credit risks.
   2. managers to do their jobs.
   3. stockholders make informed investment decisions.
   4. creditors assess liquidity.

3. Which of the following is a characteristic of managerial accounting reports?
   1. Managerial accounting reports are designed to provide the internal decision-makers with the appropriate information.
   2. Managerial accounting reports require compliance with a particular format.
   3. Managerial accounting reports are distributed to the general public.
   4. Managerial accounting reports are used by investors.

4. The information provided by managerial accountants is not distributed to the general public because to do so
   1. could provide competitors with vital information about corporate strategies and capabilities.
   2. would be against the Institute of Management Accountants code of conduct.
   3. would be against generally accepted accounting principles.
   4. would violate federal trade laws.

5. Long-term planning is often referred to as
   1. strategic planning.
   2. operational planning.
   3. goal-oriented planning.
   4. external planning.