Question 1
Which of the following groups would be least likely to receive detailed management accounting reports?
◦ stockholders
◦ sales managers
◦ production supervisors
◦ distribution managers
Question 2
Which of the following is true of cost accounting?
◦ It is a subset of management accounting and therefore its information is used only to meet the needs of managers.
◦ It is used only by manufacturers.
◦ It is part of both management and financial accounting systems.
◦ The distinction between management accounting and cost accounting is clear-cut.