accounting mc

Which of the following statements is incorrect?

Reports produced using management accounting must follow GAAP.

During the control function, the measurements taken of the performance must be accurate enough to see ________.

deviations and variances

Management accounting:

emphasizes special-purpose information

The Certified Management Accountant (CMA) certification:

includes a two-part exam, education requirements, and a work experience requirement

External users of accounting information would include ________.

investors

The managers of an organization are responsible for performing several broad functions. They are ________.

planning, controlling, and evaluating

The controller of a corporation:

reports to the board of directors

Management accountants help the management of an organization in their planning function through ________.

strategic planning

Managerial accounting produces information:

that is often focused on the future

The stockholders of a company are:

the owners

Which of the following is false regarding strategic planning?

It will span many years.

The Certified Financial Analyst (CFA) certification:

consists of three separate exams that must be taken in succession

Which of the following terms means knowing how a business is run and how it is influenced by external forces, and knowing and understanding the overall industry?

commercial awareness

Which of the following terms means the ability to work in cross-functional teams in order to complete a task?

collaboration

Which of the following is a primary aspect of the evaluating function within an organization?

comparing actual results against expected results for products, departments, divisions, or the company as a whole

Internal users of accounting information would not include ________.

creditors