1. Database system are documented using three different techniques. Identify the item below that is not used to document to database system.
a.Flowcharts
b.Charts
c.Narratives
d. diagrams
Ans: c. Narratives
2. Prepare managerial reports, budgets are used for internal financial planning purposes. Performance evaluations should be developed on the basis of
a.Generally accepted accounting principles
b.Responsibility accounting
c.Managerial accounting standards
d.Financial accounting standards
Ans: c. Managerial Accounting Standards
3. A(n)___is one or more large databases containing both detailed and summarized information used for analyzing and decision making
a.Database
b.Information system
c.Data repository
d.Data warehouse
Ans: a. Database
Database system are documented using three different techniques. Identify the item below that is not used...
Assignment
Questions:
1.
One of the
differences between Managerial Accounting and Financial Accounting
is reporting flexibility. Financial reporting is restricted by
Generally Accepted Accounting Principles whereas reporting in
Managerial Accounting has fewer rules.
a)
Why is it
permissible to violate Generally Accepted Accounting Principles
when preparing reports used strictly by company
management?
b)
Should external
users always have the same information as internal users?
Explain.
2.
The United States
uses accounting standards developed by the Financial Accounting
Standards Board (FASB)...
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