1. Emphasizes decisions affecting the future rather than the results of past activities. A) Managerial Accounting B) Financial Accounting C) Both Managerial and Financial Accounting D) Neither Managerial or Financial Accounting 2. Mandatory reporting to external users such as the SEC and must follow a set of generally accepted rules. A) Managerial Accounting B) Financial Accounting C) Both Managerial and Financial Accounting D) Neither Managerial or Financial Accounting 3. The focus is on parts of a company like divisions or departments rather than the company as a whole and may involve non-monetary data. A) Managerial Accounting B) Financial Accounting C) Both Managerial and Financial Accounting D) Neither Managerial or Financial Accounting 4. Which report is linked with the controlling function of management? a) budget b) performance report c) balance sheet d) tax return 5. A costing method that includes all manufacturing costs, direct materials, direct labor, and both variable and fixed manufacturing overhead in unit product costs. a. Allocaton costing b. Variable costing c. Job order costing d. Absorption costing 6. An overhead rate that is used throughout the production process in all departments. a. Plantwide overhead rate b. Predetermined overhead rate c. Multiple overhead rate. d. Direct labor wage rate