Which of the following is not a benefit of budgeting?
A. It uncovers potential bottlenecks before they occur.
B. Does not coordinate the activities of the entire organization by integrating the plans and objectives of the various parts.
C. Provides benchmarks for evaluating subsequent performance.
D. All of these.
E. None of these.
Management accounting:
A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results.
B) provides information about the company as a whole.
C) reports information that has occurred in the past that is verifiable and reliable.
D) provides information that is generally available only on a quarterly or annual basis
Which of the following groups would be least likely to receive detailed management accounting reports?
A) Stockholders.
B) Sales managers.
C) Production supervisors.
D) Distribution managers.
Managers use management accounting information to:
A) help external users such as investors, banks, regulators, and suppliers.
B) communicate, develop, and implement strategies.
C) communicate a firm’s financial position to investors, banks, regulators, and other outside parties.
D) ensure that financial statements are consistent with the SEC rules.
Which of the following is true of management accounting information?
A) It focuses on documenting past business actions of a firm.
B) It is prepared based on SEC rules and FASB accounting principles.
C) It is prepared for shareholders.
D) It helps with the coordination of elements of the value chain.
Which of the following statements is incorrect?
a. The information gathered from management accounting is not required by law.
b. The practice of management accounting is fairly flexible.
c. Reports produced using management accounting must follow GAAP.
d. Management accounting focuses mainly on the internal user.
Suppose Boyson Inc.’s free cash flow for next year is FCF1 = $150,000, and FCF is expected to grow at a constant rate of 6.5%. If WACC Is 11.5%, what is Its total corporate value?
a. $2,707,500
b. $3,195,000
c. $2,572,125
d. $2,816,901
e. $3,000,000
Which of the following is a true statement in regards to the international accounting standards board? Choose the best answer.
a. The IASB deals with issues caused by the lack of uniform accounting principles.
b. The IASB has the authority to audit financial statements of all US corporations.
c. The IASB was created by the American Accounting Association.
d. The IASB develops all accounting principles to be used in the United States.
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