Which of the Following Topics Is of More Concern to Management

question 22

Multiple Choice

Which of the following topics is of more concern to management accounting than to cost accounting?

• A)generally accepted accounting principles
• B)inventory valuation
• C)cost of goods sold valuation
• D)impact of economic conditions on company operations

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Definitions:

Cost Centers

Divisions or departments within an organization that do not directly generate revenue but incur costs, used for tracking and managing expenses.

Cost Price Approach

A method of valuation where items are recorded and kept in the inventory at their purchase or production cost.

Transfer Price

The price at which goods and services are sold between divisions within the same company.

Decentralized Operation

An organizational structure where decision-making is distributed among various levels or departments rather than being concentrated at a single point.