37. In a manufacturing company balance sheet, manufacturing inventories are reported in the current assets section in the order of their expected use in production. Show MULTIPLE CHOICE QUESTIONS 38. Managerial accounting applies to each of the following types of businesses except a. service firms. b. merchandising firms. c. manufacturing firms. d. Managerial accounting applies to all types of firms. 39. Managerial accounting information is generally prepared for a. stockholders. b. creditors. c. managers. d. regulatory agencies. 40. Managerial accounting information a. pertains to the entity as a whole and is highly aggregated. b. pertains to subunits of the entity and may be very detailed. c. is prepared only once a year. d. is constrained by the requirements of generally accepted accounting principles. 41. The major reporting standard for presenting managerial accounting information is a. relevance. b. generally accepted accounting principles. c. the cost principle. d. the current tax law. 42. Managerial accounting is also called a. management accounting. b. controlling. c. analytical accounting. d. inside reporting. 43. Which of the following is not an internal user? a. Creditor b. Department manager c. Controller d. Treasurer 44. Managerial accounting does not encompass a. calculating product cost. b. calculating earnings per share. c. determining cost behavior. d. profit planning. 45. Managerial accounting is applicable to a. service entities. b. manufacturing entities. c. not-for-profit entities. d. all of these. 46. Management accountants would not a. assist in budget planning. b. prepare reports primarily for external users. c. determine cost behavior. d. be concerned with the impact of cost and volume on profits. 47. Internal reports must be communicated a. daily. b. monthly. c. annually. d. as needed. 48. Financial statements for external users can be described as a. user-specific. b. general-purpose. c. special-purpose. d. managerial reports. 49. Managerial accounting reports can be described as a. general-purpose. b. macro-reports. c. special-purpose. d. classified financial statements. 50. The reporting standard for external financial reports is a. industry-specific. b. company-specific. c. generally accepted accounting principles. d. department-specific. 51. Which of the following statements about internal reports is not true? a. The content of internal reports may extend beyond the double-entry accounting system. b. Internal reports may show all amounts at market values. c. Internal reports may discuss prospective events. d. Most internal reports are summarized rather than detailed. 52. In an analogous sense, external user is to internal user as generally accepted accounting principles are to a. timely. b. special-purpose. c. relevance to decision. d. SEC. 53. Internal reports are generally a. aggregated. b. detailed. c. regulated. d. unreliable. 54. A distinguishing feature of managerial accounting is a. external users. b. general-purpose reports. c. very detailed reports. d. quarterly and annual reports. 55. What activities and responsibilities are not associated with management's functions? a. Planning b. Accountability c. Controlling d. Directing 56. Planning is a function that involves a. hiring the right people for a particular job. b. coordinating the accounting information system. c. setting goals and objectives for an entity. d. analyzing financial statements. 57. The managerial function of controlling a. is performed only by the controller of a company. b. is only applicable when the company sustains a loss. c. is concerned mainly with operating a manufacturing segment. d. includes performance evaluation by management. 58. Which of the following is not a management function? a. Constraining b. Planning c. Controlling d. Directing 59. A manager that is establishing objectives is performing which management function? a. Controlling b. Directing c. Planning d. Constraining 60. The management function that requires managers to look ahead and establish objectives is a. controlling. b. directing. c. planning. d. constraining. 61. In determining whether planned goals are being met, a manager is performing the function of a. planning. b. follow-up. c. directing. d. controlling. 62. Which of the following is not a separate management function? a. Planning b. Directing c. Decision-making d. Controlling More Questions are included Which of the following is not management function?Which of the following is not a function of management? Solution : Cooperating is not a function of management. There are mainly five functions of management- planning, organising, staffing, directing and controlling.
Which of the following is not a management function constraining?Management is defined as the procedure of organising, directing, planning and controlling the efforts of organisational members and of managing organisational sources to accomplish particular goals. Therefore, co-operating is not a function of management. Hence, the correct answer is option (c).
What are the 4 management functions?They were initially identified as five functions by Henri Fayol in the early 1900s. Over the years, Fayol's functions were combined and reduced to the following four main functions of management: planning, organizing, leading, and controlling.
Which of the following is not a management function planning?Planning, staffing, controlling are covered under this definition. Hence, co-operating is not a function as such, of management.
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Which of the following is not a management function a constraining B planning C controlling D directing and motivating?
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