Requirements Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled (a. Plan or d. Controlling). Are the statements below more descriptive of managerial accounting or financial accounting information? Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fulfilled c. Integrity, or d. Credibility). Each standard may be used more than once or not at all. 1. 2. 3. Requirement 1. Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfillec c. Directing, or d. Controlling). ... Statement 1. Identifying alternative courses of action and choosing among them 2. Running the company on a day-to-day basis 3. Determining whether the company's units are operating according to plan Setting goals and objectives for the company and determining strategies to achieve 4. them Requirement 2. Are the statements below more descriptive of managerial accounting or financial accounting information? a. Describes historical transactions with external parties b. Is not required by any authoritative body, such as the SEC Reports on the company's subunits, such as products, geographical areas, and c. departments d. Is intended to be used by creditors and investors e. Is formatted in accordance with GAAP Responsibility 1. Do not disclose company information unless authorized to do so. 2. Continue to develop skills and knowledge. Management Responsibility Decision making Directing Requirement 3. Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fu b. Confidentiality, c. Integrity, or d. Credibility). Each standard may be used more than once or not at all. Standard of Ethical Professional Practice
Requirements Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled (a. Plan or d. Controlling). Are the statements below more descriptive of managerial accounting or financial accounting information? Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fulfilled c. Integrity, or d. Credibility). Each standard may be used more than once or not at all. 1. 2. 3. Requirement 1. Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfillec c. Directing, or d. Controlling). ... Statement 1. Identifying alternative courses of action and choosing among them 2. Running the company on a day-to-day basis 3. Determining whether the company's units are operating according to plan Setting goals and objectives for the company and determining strategies to achieve 4. them Requirement 2. Are the statements below more descriptive of managerial accounting or financial accounting information? a. Describes historical transactions with external parties b. Is not required by any authoritative body, such as the SEC Reports on the company's subunits, such as products, geographical areas, and c. departments d. Is intended to be used by creditors and investors e. Is formatted in accordance with GAAP Responsibility 1. Do not disclose company information unless authorized to do so. 2. Continue to develop skills and knowledge. Management Responsibility Decision making Directing Requirement 3. Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fu b. Confidentiality, c. Integrity, or d. Credibility). Each standard may be used more than once or not at all. Standard of Ethical Professional Practice
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Requirements
Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled (a. Plan
or d. Controlling).
1.
2₁
3.
Are the statements below more descriptive of managerial accounting or financial accounting information?
Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fulfilled
c. Integrity, or d. Credibility). Each standard may be used more than once or not at all.
Requirement 1. Each of the statements below describes a responsibility of management. Match each statement to the management responsibility being fulfilled
c. Directing, or d. Controlling).
Statement
1. Identifying alternative courses of action and choosing among them
2. Running the company on a day-to-day basis
3. Determining whether the company's units are operating according to plan
Setting goals and objectives for the company and determining strategies to achieve
4. them
Requirement 2. Are the statements below more descriptive of managerial accounting or financial accounting information?
a. Describes historical transactions with external parties
b. Is not required by any authoritative body, such as the SEC
Reports on the company's subunits, such as products, geographical areas, and
c. departments
d. Is intended to be used by creditors and investors
e. Is formatted in accordance with GAAP
Management Responsibility
Decision making
Directing
Requirement 3. Each of the statements below paraphrases an ethical responsibility. Match each statement to the standard of ethical professional practice being fu
b. Confidentiality, c. Integrity, or d. Credibility). Each standard may be used more than once or not at all.
Responsibility
1. Do not disclose company information unless authorized to do so.
2. Continue to develop skills and knowledge.
Standard of Ethical
Professional Practice
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