Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds. Test Bank for Fundamental Managerial Accounting Concepts, 9th Edition, Thomas Edmonds, Christopher Edmonds, Mark Edmonds, Philip Olds. Fundamental Managerial Accounting Concepts, 9e (Edmonds) Chapter 1 Management Accounting and Corporate Governance 1) Ashley Bradshaw is the manager of one department in a large store. In this capacity, which of the following kinds of information would she be interested in? A) Economic data B) Financial data C) Nonfinancial data D) Financial, economic, and nonfinancial data Answer: D Explanation: Managers rely on financial, economic, and nonfinancial data to make decisions and evaluate performance. Difficulty: 1 Easy Topic: Users and Types of Information Learning Objective: 01-01 Distinguish between managerial and financial accounting. Bloom's: Remember AACSB: Knowledge Application AICPA: FN Decision Making; BB Industry 2) All of the following are features of managerial accounting except: A) information is provided primarily to insiders such as managers. B) information includes economic and non-financial data as well as financial data. C) information is characterized by objectivity, reliability, consistency, and accuracy. D) information is reported continuously with a present or future orientation. Answer: C Explanation: Managerial accounting is concerned with unregulated financial, economic, and nonfinancial data, which pertains more to the sub-units of the organization, that is current and future oriented, and that is designed primarily to meet the information needs of insiders. Financial accounting information is characterized by objectivity, reliability, consistency, and accuracy. Difficulty: 1 Easy Topic: Information Characteristics Learning Objective: 01-01 Distinguish between managerial and financial accounting. Bloom's: Remember AACSB: Knowledge Application AICPA: FN Decision Making; BB Industry
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