SECTION
1. List and discuss the characteristics of Management account vs. Financial Accounting. (5 points)
|
Management Accounting |
Financial Accounting |
|
|
For Example Service Perspective |
Internal to Manager |
External to investors & creditors |
2. Explain the concept of break-even point. What is it an important tool in business planning? (5 points)
3. Two students enrolled in managerial accounting were discussing about cost behavior. Student A said that fixed cost increases in total as level of output increases while student B disagrees. Who is correct and why. Give examples to support your answer. (5 points)