1 managerial accounting information is designed primarily to assist investors and cr 4295628
1.Managerial accounting information is designed primarily to assist investors and creditors in deciding how to allocate scarce resources.
2.All internal control systems need to be monitored.
3.Management accounting information is oriented toward the future while financial accounting information is historical in nature.
4.Return on investment is the same as return of investment.
5.The IRS tax return is one of the primary financial statements.
6.External users of accounting information have a financial interest in an entity but are not involved with the day-to-day operations of the enterprise.
7.The tailoring of an accounting report to meet the needs of a specific decision maker is more characteristic of financial accounting reports than of management accounting reports.
8.The annual financial statements of large corporations such as Microsoft or PepsiCo need not be audited by independent certified public accountants, since these firms maintain large accounting departments as part of their organizations.
9.The statement of financial position and the income statement are one and the same.
10.Investors are individuals and other enterprises that have provided equity to the reporting enterprise.