Which is an example of controlling

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Problem 1: Which of the following is an example of controlling?

A. Management decides to open a new storage facility in Canada.

B. After comparing budget to actual, management adjusts its plan to keep the company on goal.

C. After reviewing the daily sales, management revises its staffing schedule.

D. Management sets goals to meet in the next fiscal year.

Problem 2: Which of the following is TRUE about managerial accounting vs. financial accounting?

A. Both managerial and financial reports are prepared quarterly and annually.

B. Managerial accounting is primarily utilized by internal users, while financial accounting is primarily utilized by external users.

C. The primary information characteristics for managerial accounting are reliability and objectivity, while the primary information characteristic for financial accounting is relevance.

D. The CPA requires managerial accounting reports and the SEC requires financial accounting reports.

 

Reference no: EM132959402

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