Managerial Accounting: Creating Value in a Dynamic Business Environment 12th Edition by Ronald Hilto

A focus on reporting to external parties.
An area of accounting that is heavily regulated.
A focus on providing information that is relevant for planning, decision making, directing,
and control.
A focus on reporting to personnel within an organization and a focus on providing
information that is relevant for planning, decision making, directing, and control.
Managerial accounting is more related than financial accounting to a focus on reporting to
personnel within an organization, as well as providing information for planning, decision making,
directing, and control.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.




 
 50.
Award: 1.00 point
Which of the following statements represents a similarity between financial and managerial
accounting?
Both are useful in providing information for external users.
Both are governed by GAAP.
Both draw upon data from an organization's accounting system.
Both rely heavily on published financial statements.
Both are solely concerned with historical transactions.
Both financial and managerial accounting draw upon data from an organization’s accounting
system.
References
Multiple Choice Difficulty: 3 Hard Learning Objective: 01-04 Explain the
major differences between managerial
and financial accounting.


 


 51.
Award: 1.00 point
 52.
Award: 1.00 point
Which of the following employees at Clear Flights would not be considered as holding a line
position?
Pilot.
Chief financial officer (CFO).
Flight attendant.
Ticket agent.
Baggage handler.
A CFO would not be considered a line position.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
Which of the following employees would be considered as holding a line position?
Townhouse Corporation's vice-president for government relations.
The controller of Margin Motors.
A secretary employed by Signal Communications.
The manager of food and beverage services at a theme park.
None of the answers is correct.
The manager of food and beverage services at a theme park would be considered a line position.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.

 






 

 53.
Award: 1.00 point
 54.
Award: 1.00 point
Which of the following employees at Fresh Brew Co. would likely be considered as holding a staff
position?
The company's chief operating officer (COO).
The manager of a store located in Kansas City, Missouri.
The company's manager of the Midwest division.
The company's president of products nationwide.
The company's lead, in-house attorney and the company's chief financial officer (CFO).
The company's lead, in-house attorney and the company's chief financial officer (CFO) are both staff
positions.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
The chief managerial and financial accountant of an organization is the:
chief executive officer (CEO).
treasurer.
vice-president of accounting.
internal auditor.
chief financial officer (CFO).
The CFO is the chief managerial and financial accountant of an organization.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.




 




 
 55.
Award: 1.00 point
 56.
Award: 1.00 point
A company’s leading executive is:
chief financial officer (CFO).
treasurer.
vice-president of accounting.
internal auditor.
chief executive officer (CEO).
The CEO is a company’s leading executive.
References
Multiple Choice Difficulty: 1 Easy Learning Objective: 01-05 Describe the
accounting and finance structure in an
organization.
Managers directly involved in the provision of goods and services are ____________.
staff positions.
line positions.
general counsel positions.
human resource positions.
None of these is correct.
Managers directly involved in the provision of goods and services are line positions.
References