21 historically management accounting innovations have been developed by a the inter 4312218

21 historically management accounting innovations have been developed by a the inter 4312218

21) Historically, management accounting innovations have been developed by:

A) the International Accounting Standards Board.

B) the Cost Accounting Standards Board.

C) Academic accountants.

D) Managers.

22) In general, it was not until the 1970s that management accounting systems:

A) were improved because of demands by the FASB and the SEC.

B) stagnated and proved inadequate.

C) started to develop innovations in costing and performance-measurement systems due to intense pressure from overseas competitors.

D) started to address the decision-making needs of managers.

23) Financial accounting information:

A) provides a signal that something is wrong.

B) identifies what is wrong.

C) explains what is wrong.

D) simply summarizes information but gives no indication that anything is wrong.

24) The regulatory authority responsible for formulating rules of United States GAAP is:

A) the Financial Accounting Standards Board.

B) the Cost Accounting Standards Board.

C) the Federal Accounting Standards Advisory Board.

D) the International Accounting Standards Board.

25) Management accounting information is BEST described as:

A) providing a signal that something is wrong.

B) identifying and helping to explain what is wrong.

C) simply summarizing information, but giving no indication that anything is wrong.

D) measuring overall organizational performance.

26) Compare and contrast the users and uses of management accounting and financial accounting.

27) What is the purpose of management accounting?

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