单选题
Passage 1
One of the most important functions of the accounting process is to accumulate and report ac-counting information that shows an organization's financial position and the results of its opera-tions . Many businesses publish such financial statements at least annually. The subdivision of the accounting, process that produces these general - purpose reports is referred to as financial accounting. Another major function of accounting is to provide management with the data needed for decision making and for efficient operation of the firm.
Although management people routinely receive the financial reports , they also require var-ious other information, such as the unit cost of a product, estimates of the profit earned from a specific sales activity, cost comparisons of alternative courses of action and long- range bud-gets . The process of generating and analyzing such data is often referred to as managerial ac-counting .
单选题
The purpose of managerial accounting is to prepare financial statements every year.
【正确答案】
B
【答案解析】
单选题
Financial statements include balance sheet, income statement and cash flow statement.
【正确答案】
C
【答案解析】
单选题
Financial statements are used only by the outsiders of a firm .
【正确答案】
B
【答案解析】
单选题
The management of a firm needs to use the results of both financial accounting as well as managerial accounting.