Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto
Employee empowerment includes all of the initiatives listed.
References
Multiple Choice Difficulty: 2 Medium Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
42.
Award: 1.00 point
43.
Award: 1.00 point
The process of encouraging and authorizing workers to take appropriate initiatives to improve the
overall firm is commonly known as:
planning and control.
employee empowerment.
personnel aggressiveness.
decision making.
problem recognition and solution.
This is the definition for employee empowerment.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
Managerial accounting:
focuses only on historical data.
is governed by GAAP.
focuses primarily on the needs of personnel within the organization.
provides information for parties external to the organization.
focuses on financial statements and other financial reports.
Managerial accounting focuses primarily on the needs of personnel within the organization.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
44.
Award: 1.00 point
45.
Award: 1.00 point
Managerial accounting:
is unregulated.
produces information that is useful only for manufacturing organizations.
is based exclusively on historical data.
is regulated by the Securities and Exchange Commission (SEC).
generally focuses on reporting information about the enterprise in its entirety rather than
by subunits.
Managerial accounting is unregulated.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
All of the following entities would have a need for managerial accounting information except:
the state of Michigan.
an Internet provider.
a retail clothing outlet.
a bookkeeping service.
None of these responses is correct, as all of these entities would use managerial
accounting information.
All of these entities use managerial accounting information, so none of these responses is correct.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
46.
Award: 1.00 point
Which of the following choices correctly depicts whether Ocean Co., State University, and Enrique
Inc. would have a need for managerial accounting?
Ocean Co. State University Enrique Inc.
A. Yes Yes No
B. Yes No Yes
C. Yes Yes Yes
D. No Yes No
E. No Yes Yes
Choice A.
Choice B.
Choice C.
Choice D.
Choice E.
All three of these organizations have a need for managerial accounting.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
47.
Award: 1.00 point
48.
Award: 1.00 point
Which of the following would likely be considered an internal user of accounting information rather
than an external user?
Stockholders.
Consumer groups.
Lenders.
Middle-level managers.
Government agencies.
Middle-level managers would likely be considered an internal user of accounting information.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
Financial accounting focuses primarily on reporting:
to parties outside of an organization.
to parties within an organization.
to an organization's board of directors.
to financial institutions.
for financial institutions.
Financial accounting focuses primarily on reporting to parties outside of an organization.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.
49.
Award: 1.00 point
Which of the following characteristic(s) relate(s) more to managerial accounting than to financial
accounting?
A focus on reporting to personnel within an organization.