1. Budgets are a way for managers to communicate their
   hiring practices,
   decision-making.
   control.
   plans.

plans.

2. What position is typically responsible for financial accounting, managerial accounting, and tax reporting?
   Audit committee
   Controller
   Treasurer
   CFO

Controller

3. The primary goal of managerial accounting is to provide information to
   creditors.
   internal decision - makers,
   shareholders.
   both shareholders and creditors.

internal decision - makers,

4. The focus of management accounting is on
   internal reporting.
   external reporting.
   auditing.
   tax preparation.

internal reporting

5. The IMA. issues which of the following certifications?
   CPA
   CFP
   CIA
   CMA

CMA

6. Managerial accountants may be responsible for
   communicating results,
   providing decision support,
   analyzing data,
   all of the above.

all of the above.

7. Which statement is true?
   Management uses reports created for internal parties.
   Management uses financial information to analyze costs.
   Management uses financial information to plan internal operations.
   All of the above are true.

All of the above are true.

8. The ability to meet the needs of the present without compromising the needs of the future is often referred to as
   total quality management,
   the bottom line,
   just-in-time.
   sustainability

sustainability

9. What is the name of the professional association for managerial accountants?
   Professional Accountants Association
   Association of Management Accountants
   Institute of Management Accountants
   Institute of Professional Accountants

Institute of Management Accountants

10. __________ gathers, summarizes, and reports on the financial impact of changes to business operations.
    Planning
    Controlling
    Managerial accounting
    Directing

Managerial accounting