Exam 1: Decision Making and the Role of Accounting

External decision makers:

How many of the following are differences between management and financial accounting? Types of reports produced Frequency of reports The format of reports The users of reports

In the accounting profession what do the initials CFO stand for?

Which type of information about J Company would be of most interest to its production manager?

Which of these is not one of the four areas in which public accountants tend to specialise?

Which of the four stages of the accounting process is considered to require the most extensive training, experience and judgement?

The initials ICAA stand for:

Which of these is not a characteristic of financial accounting?

Which of these is not an economic decision?

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

One of the major professional accounting bodies in Australia is the:

The term used to describe the economic events which are the inputs of the accounting information system is:

The conversion of raw materials into finished products by a manufacturing entity is which of the following?

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

Accounting work involving the independent examination and verification of financial reports is known as:

Behaviour which conforms to established professional standards is said to be:

Who of the following is not an external decision maker?

Financial accounting is the area of accounting concerned with providing information to ___________ decision makers of the organisation.

The rules set down by the professional accounting bodies which establish standards of conduct for their members are known as:

Accounting work with the primary purpose of verifying the financial statements is called: