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Exam Elaboration | Nursing
Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds.
SKU: ACCOUNTING | Pages: 89 | Year: 2022
Document Brief Description
Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds.
Test Bank for...
Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds.
Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds.
Fundamental Managerial Accounting Concepts, 9e (Edmonds)
Chapter 1 Management Accounting and Corporate Governance
1) Ashley Bradshaw is the manager of one department in a large store. In this capacity, which of
the following kinds of information would she be interested in?
A) Economic data
B) Financial data
C) Nonfinancial data
D) Financial, economic, and nonfinancial data
Answer: D
Explanation: Managers rely on financial, economic, and nonfinancial data to make decisions and
evaluate performance.
Difficulty: 1 Easy
Topic: Users and Types of Information
Learning Objective: 01-01 Distinguish between managerial and financial accounting.
Bloom's: Remember
AACSB: Knowledge Application
AICPA: FN Decision Making; BB Industry
2) All of the following are features of managerial accounting except:
A) information is provided primarily to insiders such as managers.
B) information includes economic and non-financial data as well as financial data.
C) information is characterized by objectivity, reliability, consistency, and accuracy.
D) information is reported continuously with a present or future orientation.
Answer: C
Explanation: Managerial accounting is concerned with unregulated financial, economic, and
nonfinancial data, which pertains more to the sub-units of the organization, that is current and
future oriented, and that is designed primarily to meet the information needs of insiders.
Financial accounting information is characterized by objectivity, reliability, consistency, and
accuracy.
Difficulty: 1 Easy
Topic: Information Characteristics
Learning Objective: 01-01 Distinguish between managerial and financial accounting.
Bloom's: Remember
AACSB: Knowledge Application
AICPA: FN Decision Making; BB Industry
- 89-pages detailed model answer (PDF + online view)
- Clinical reasoning & medication selection justified
- NP-level explanation with key teaching points
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Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds.
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