![]() Which of the following is not a management function?Ī manager that is establishing objectives is performing which management function? setting goals and objectives for an entity coordinating the accounting information systemĬ. hiring the right people for a particular job.ī. Product costs and thus generate meaningful financial statements and other reports.įinancial statements for external users can be described asĪ. Cost accounting procedures help management in gathering the data needed to determine.Operation costing is a hybrid costing system often used in repetitive manufacturing whereįinished products have common as well as distinguishing characteristics. Process costing is used by companies making one-of-a-kind To the production of customer specified products such as the manufacture of special machine. Job order costing system is for allocating costs to group of unique product and is applicable Managerial accounting information generally pertains to an entity as a whole and is highly Management accounting applies to all forms of business organizations.Ĭontrolling is the process of determining whether planned goals are being met Managerial accounting internal reports are prepared more frequently than are classifiedĭetermining the unit cost of manufacturing a product is an output of financial accounting. Prepared in managerial accounting are usually special-purpose reports, Reports prepared in financial accounting are general-purpose reports, whereas reports Provide a capital "T" for true of "F" for false ![]() Indicate whether the following statements are true or false by inserting in the blank space
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