Exam 1: Decision Making and the Role of Accounting

The area of accounting that oversees the recording of transactions and prepares reports specially tailored for managers in their planning and decision-making is called:

The type of behaviour that would be regarded as ethical is:

Accountants who administer or wind-up businesses unable to pay debts specialise in the area of:

Which type of information would be of most interest to a manufacturing manager?

There are four steps in the decision-making process. The final step in this process is to:

Internal decision makers:

Accounting is defined as the process of identifying, __________, recording and communicating economic information to permit informed judgements and economic decisions by users of the information.

Which type of information about a company would be of most interest to the Australian Taxation Office?

External decision makers can be divided into four groups. To which of these groups do unions belong?

Which statement relating to ethics is not correct?

Financial reports prepared for a variety of external users who are unable to obtain the accounting information for their own specific needs are known as:

Which statement is incorrect?

Special purpose financial statements provide information to be used by which of these parties?

The APESB's vision is to be recognised by their stakeholders for their leading contribution in achieving the highest level of professional and ethical behaviour in the accounting profession. In order to achieve this, the APESB will:

The job of the modern accountant is a challenging one and requires accountants to keep up with, and manage, a changing business environment. The most important skills required of the modern accountant are:

Who of the following is not an external decision maker?

Membership to a professional accounting body in Australia requires:

Which of the following is an example of the use of accounting information?

Independent professional services that improve the context and quality of information for decision-making is known as:

Which type of information about a company would be of most interest to its trade creditors?