Solution-Certify that a company maintains an adequate system

Certify that a company maintains an adequate system

Assignment Help Managerial Accounting

Reference no: EM13513604

Indicate whether the following statements are true or false.

1. Managerial accountants have a single role within an organization, collecting and reporting costs to management.

2. Financial accounting reports are general-purpose and intended for external users.

3. Managerial accounting reports are special-purpose and issued as frequently as needed.

4. Managers' activities and responsibilities can be classified into three broad functions: cost accounting, budgeting, and internal control.

5. As a result of the Sarbanes-Oxley Act of 2002, managerial accounting reports must now comply with generally accepted accounting principles (GAAP).

Top managers must certify that a company maintains an adequate system of internal controls.

Reference no: EM13513604

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Certify that a company maintains an adequate system

Reference no: EM13513604

Reference no: EM13513604

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