In term of the detir Theory. which stat coherent set? а. Accounting theory inquiry

Which of the following statements is false? O a. Managerial accounting does not need to conform to GAAP. O b. Managerial accounting sometimes relies on past information. Oc. There is no overlap between financial and managerial accounting. O d. Financial accounting must conform to GAAP.

Which of the following statements is false? Oa. Financial accounting must conform to GAAP. Ob. Managerial accounting sometimes relies on past information. Oc. Managerial accounting does not need to conform to GAAP. Od. There is no overlap between financial and managerial accounting.

Listed below are the fundamental and enhancing qualitative characteristics that make accountinginformation useful.. Relevance. Faithful representation. Comparability. Verifiability. Timeliness. UnderstandabilityRequired:1. Match the appropriate qualitative characteristic with the statements below (items can beused more than once).a. When information is provided before it loses its ability to influence decisions, it has thischaracteristic.b. When several accountants can agree on the measurement of an activity, the informationpossesses this characteristic.c. If users can comprehend the meaning of the information, the information is said to havethis characteristic.d. If information confirms prior expectations, it possesses this characteristic.e. If information helps to predict future events, it possesses this characteristic.f. Freedom from bias is a component of this characteristic.g. When several companies in the same industry use the same accounting methods, thisqualitative…

Management accounting and financial accounting differ in that management accounting information is prepared a.following prescribed rules b.using whatever methods the company finds beneficial c.for shareholders and investors d.for the Inland Revenue Department e.none of these

Which of the following statements is false? a.Financial accounting must conform to GAAP. b.Managerial accounting sometimes relies on past information. c.Managerial accounting does not need to conform to GAAP. d.There is no overlap between financial and managerial accounting.

Which of the following statements is false? Select one: O A. Management accounting statements need not comply with Accounting regulations O B. Financial accounting statements normally reflect more detail than would be found in management accounting reports O C. Management accounting reports emphasise future activities and future costs O D. Financial accounting data are directed primarily at external users rather than internal users.

The area of the accounting profession that deals with providing information to meet the needs of the internal decision-makers. Select one: a. Auditing b. No correct answer c. Financial Accounting d. Management Accounting         Which of the following statements are true? Select one: a. Both II & III b. Statement I: External analysis depends entirely on issued financial.Statement II: Interpretation and analysis both are different.Statement III: Financial analysis covers interpretation. c. Both I and III d. Both I & II e. I, II, III           Which of the following statement is not true? Select one: a. A non-CPA may be the chief accountant of a business enterprise. b. A non-CPA may be engaged in Public accounting. c. To be a good accountant, one must have mastery of mathematics. d. A non-accounting graduate may work as a bookkeeper or accountant or accountant of a business enterprise.

Choose the best answer to fill in the blank: “A key difference between management accounting and financial accounting reports is that management accounting reports tend ​ to______.” a. be more general purpose b. have longer reporting intervals c. rely more on objective, verifiable evidence d. be forward looking

Qualitative Characteristics The following is a list of qualitativecharacteristics of useful accounting information identified in the FASB'sand the IASB's Statement of Financial Accounting Concepts No. 8 andstatements describing the qualities. A. ComparabilityB. Decision usefulnessC. RelevanceD. Faithful representation E. Predictive valueF. Confirmatory valueG. VerifiabilityH. NeutralityI. Free from error J. ConsistencyK. MaterialityL. TimelinessM. UnderstandabilityN. Completeness _ _ _ _ _ _1. Different knowledgeable and independent observers conreach consensus that a particular representation is faithful_ _ _ _ _ _2. Making information available to decision makers before itloses its capacity to influence decisions._ _ _ _ _ _3. Capacity to make a difference in a decision, enabling users to predict future outcomes and/or confirm prior expectations._ _ _ _ _ _4. Overall objective of financial information. _ _ _ _ _ _ 5. Absence of bias intended to influence financial statementusers'…