multiple choice

1) Managerial accounting information: A. Is used mainly by external users. B. Involves gathering information about costs for planning and control decisions. C. Is generally the only accounting information available to managers. D. Can be used for control purposes but not for planning purposes. E. Has little to do with controlling costs. 2) Expenses that are not easily associated with a specific department, and which are incurred for the benefit of more than one department, are: A. Fixed expenses B. Indirect expenses. C. Direct expenses. D. Uncontrollable expenses. E. Variable expenses. 3) A direct cost is a cost that is: A. Identifiable as controllable. B. Variable with respect to the volume of activity. C. Fixed with respect to the volume of activity. D. Traceable to a cost object. E. Sunk with respect to a cost object 4) Which of the following items represents a difference between financial and managerial