In Management Accounting, Students Learn to Prepare Budgets, Calculate Cost

question 7

Multiple Choice

In management accounting, students learn to prepare budgets, calculate cost variances and interpret those variances. Which of the following best links those topics with AIS study?

• A)Use of professional judgment
• B)Required use of information technology
• C)Both A and B
• D)Neither A nor B

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Definitions:

Terminating Decimal

A decimal that comes to an end or has a finite number of digits after the decimal point.

Decimal Equivalent

The numerical representation of a fraction where the numerator is divided by the denominator to produce a decimal.

Percent Equivalent

The fraction or decimal expressed as a percentage.

Five-figure Accuracy

Refers to precision up to the fifth digit, often used in scientific, technical, or financial data to indicate a high level of exactness.