Reference no: EM131536152

Question: Both managerial accounting and financial accounting provide useful information to decision makers. Indicate in the following chart the most likely source of information for each business decision (a decision can require major input from both sources, in which case both can be marked).

Primary Information Source

                                                                                     Business Decision                   Managerial Financial

1. Plan the budget for next quarter . . . . . . . . . . . . . . . . . . ____                                                    ____

2. Measure profitability of all individual stores . . . . . . . . . ____                                                         ____

3. Prepare financial reports according to GAAP . . . . . . . . ____                                                          ____

4. Determine location and size for a new plant . . . . . . . . ____                                                          ____

5. Determine amount of dividends to pay stockholders. . ____                                                             ____

6. Evaluate a purchasing department's performance . . . . ____                                                           ____

7. Report financial performance to board of directors. . . . ____                                                           ____

8. Estimate product cost for a new line of shoes . . . . . . . . ____                                                        ____