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NEW QUESTION: 1
Which of the following statement is true in reference to Financial & Management Accounting?
Please choose the correct answer.
Response:
A. Financial accounting reflects the revenue, cost involved in different area whereas
management accounting reflects the profitability of the business.
B. Financial accounting is standard as per legal requirement whereas management accounting is flexible& as per the requirement of the management.
C. Financial accounting is for internal management whereas Management accounting is for external management like stockholders, financial institutions, government& tax authorities.
D. Management accounting is made on the line of standard & legal requirement whereas financial accounting is made as per the internal requirement of the organization.
Answer: B

NEW QUESTION: 2
Which of the following elements can be generated by material requirements planning (MRP)?
There are 3 correct answers to this question.
A. Production order
B. Delivery schedule line
C. Planned order O Purchase order
D. Purchase requisition
Answer: B,C,D

NEW QUESTION: 3
A bank requires tellers to get manager approval when a customer wants to open a new account. A recent audit shows that there have been four cases in the previous year where tellers opened accounts without management approval. The bank president thought separation of duties would prevent this from happening. In order to implement a true separation of duties approach the bank could:
A. Administer account creation on a role based access control approach
B. Require the use of two different passwords held by two different individuals to open an account
C. Administer account creation on a rule based access control approach
D. Require all new accounts to be handled by someone else other than a teller since they have different duties
Answer: D