The primary objective of management accounting is to provide the a.shareholders with useful information for decision making b. creditors with useful information for decision making c. management with information useful for planning and control of operations d. government agencies with information for tax and other compliance purposes

Q: What responsibility would internal auditing go under? managerial accounting, tax accounting or…

A: There are different branch of accounting that help in the recording of transactions and analysis of…

Q: Who appoints the internal auditor? a. Management b. Government c. External stakeholders d. Members

A: Internal auditor performs internal audit functions.

Q: Describe the Management’s Responsibility for Financial Statements.

A: The financial statements of the company are the responsibility of management. The financial…

Q: accounting is used by internal decision makers and accounting is used for external

A: Management accounting & Financial accounting are both branches of accounting, while the former…

Q: he GAAP hierarchy lists which source of authoritative accounting guidance as highest in priority?…

A: GAAP refers to the Generally Accepted Accounting Principles, this is classified in four level…

Q: Both the GASB and the FASB require entities to include a management discussion and analysis in the…

A: The Government Accounting Standard Board (GASB) is defined as an organization that performs the…

Q: Setting accounting standards by the private sector is

A: The common law is developed on the basis of the particular case. It represents the development of…

Q: Who uses information from an accounting​ system?       A. ​Stockholders, investors, taxing​…

A: A set of accounting procedures and techniques is referred to as the accounting system. Its main aim…

Q: How can a broader conceptualization of accounts, accounting and accountability (the 3As), and the…

A: These 3As like Accounts, Accounting and Accountability are three different concept and it must be…

Q: Explain the concepts of fiscal and operational accountability and the basis of accounting used to…

A: Financial accountability refers to the policies adopted by a board for the attainment of their…

Q: Which of the following are characteristics of management accounting information?  a) Unregulated…

A: Answer -    The following are characteristics of management accounting information-  verifiability,…

Q: General-purpose fi nancial statements are prepared primarily for:a. internal users.b. external…

A:

Q: Management accounting focuses primarily on providing data for: Oa. internal uses by managers Ob.…

A: There are different types of accounting such as financial accounting, management accounting, cost…

Q: Explain the purpose of the Public Company Accounting Oversight Board.

A: Auditing:   In auditing, auditors verify the correctness and fair presentation of financial…

Q: A company’s controller is least concerned with: a. Provision of capital b. Information processing…

A: Controllers refer to a person in a company who managed the financial departments which is helpful in…

Q: The IASB has created accounting standards that are: Select one: a. Rules-based. b.…

A: IASB stands for International Accounting Standard Board.

Q: Which of the following parties is responsible for the fairness of the representations made in…

A: Financial statements are the reports prepared to help the stakeholders to analyze the financial and…

Q: Explain why establishing accounting standards is characterized as a politicalprocess

A: The standard setting process is a political process that is affected by the impact of several…

Q: The financial accounting Standards board is responsible for

A: FASB is an independent, not for profit private organisation recognised by Securities Exchange…