Question: 1. Managerial accounting produces information
(a) to meet internal users' needs,
(b) to meet a user's specific needs,
(c) often focusing on the future, or (d) all of these.
2. What is the difference between the intended users of financial and managerial accounting?
3. Do generally accepted accounting principles (GAAP) control and dictate managerial accounting?
4. Which type of cost behavior increases total costs when volume of activity increases?