A Basic Difference Between Managerial Accounting and Financial Accounting Is

question 343

Multiple Choice

A basic difference between managerial accounting and financial accounting is that managerial accounting

• A) adheres to rules set by the GASB, while financial accounting uses a different group of rules set by the FASB.
• B) involves the preparation of the balance sheet and income statement while financial accounting involves the preparation of the statement of cash flows.
• C) handles recording and classifying information about transactions that have no direct financial impact on the firm, while financial accounting handles the recording and classifying of information about transactions that do have a financial impact.
• D) provides information primarily intended for managers and others inside the company, while financial accounting provides information primarily intended for people outside the organization.

Analyze gender-based occupational segregation and its underlying causes.

Describe the impact of work conditions on individual well-being, including job satisfaction and the concept of self-estrangement.

Understand the role of social support systems in coping with workplace stress.

Know the relationship between occupational factors, personal traits, and health outcomes such as heart disease.

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Definitions:

Competent

Having the necessary ability, knowledge, or skill to do something successfully.

Task Specialist

In groups, a member who pushes the group toward the attainment of its goals; a person who contributes many ideas and suggestions to the group.

Social-emotional Specialist

A professional dedicated to addressing the social and emotional development needs of individuals, focusing on emotional intelligence, interpersonal skills, and mental health.

Role Differentiation

The emergence of distinct roles within a group; the division of labor within a group.