MULTIPLE CHOICE 1. The main focus of managerial accounting is: a. decision making. b. the preparation of financial statements. c. the preparation of budgets. d. documenting cash flows. ANS: A PTS: 1 DIF: Easy OBJ: 1.3 NAT: AACSB: Analytic | 2. Which of the following is not true about knowledge in the business environment? a. It is the same as data and information. b. It is the value added from shared information. c. It includes both quantitative and qualitative information. d. It must be managed in order for a company to remain competitive. ANS: A PTS: 1 DIF: Easy OBJ: 1.1 NAT: AACSB: Analytic | 3. Which of the following statements is not true regarding enterprise resource planning (ERP)? a. It integrates traditional accounting information systems with other information systems. b. It can be customised to provide specific and relevant information to different types of users. c. It has evolved in the past few years to address the shortcomings of traditional accounting information systems. d. It captures quantitative but not qualitative information. ANS: D PTS: 1 DIF: Easy OBJ: 1.1 NAT: AACSB: Use of technology | 4. ERP systems capture: a. only qualitative data. b. only quantitative data. c. both qualitative and quantitative data. d. the same information as traditional accounting information systems. ANS: C PTS: 1 DIF: Easy OBJ: 1.1 NAT: AACSB: Use of technology | 5. An example of qualitative data is: a. product cost. b. customer satisfaction.