1) Use of the sales journal to record sales on credit. a) Management Accounting b) Financial Accounting 2) A customer returned a defective product purchased the previous day. An entry to his account was made. a) Management Accounting b) Financial Accounting 3) More likely to be concerned with future events and also with the internal events of a company. a) Management Accounting b) Financial Accounting 4) Use of fixed and variable costs to develop standards for evaluating performance. a) Management Accounting b) Financial Accounting 5) Use of ratios to evaluate performance a) Management Accounting b) Financial Accounting 6) The vice president of marketing has requested certain cost estimates concerning a new proposed product. a) Management Accounting b) Financial Accounting 7) More likely to be concerned with historical external events such as transactions already completed. a) Management Accounting b) Financial Accounting 8) A body of knowledge that uses concepts and techniques from management, marketing, and financial theory and also uses techniques from economics and mathematics. a) Management Accounting b) Financial Accounting 9) Concerned with the procedures for recording issue of stocks and bonds. a) Management Accounting b) Financial Accounting 10) More likely to ask the question, what amount of inventory should be on hand? a) Management Accounting b) Financial Accounting

Difference between MA and FA

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