Which of the following statements does not describe a characteristic of management accounting?
A) Management accounting must conform to GAAP.
B) Approximate amounts rather than accurate amounts or refined estimates are often used in management accounting.
C) Management accounting places a great deal of emphasis on the future.
D) Management accounting is more concerned with units of the organization rather than with the organization as a whole.
Correct Answer:
Verified
Q8: Cost behavior refers to:
A)costs that are both
Q9: As the total volume of activity changes:
A)the
Q10: Knowing the behavior pattern of a cost
Q11: Managerial accounting, as compared to financial accounting:
A)must
Q12: The formula for expressing the total of
Q14: Managerial accounting supports the management process least
Q15: When using a cost formula to determine
Q16: As the level of activity increases:
A)fixed cost
Q17: Expressing fixed costs on a per unit
Q18: Managerial accounting can best be described as:
A)the
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