Which of the Following Statements Does Not Describe a Characteristic

question 56

Multiple Choice

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.

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Definitions:

Gini Ratios

A metric assessing the uneven distribution of income among individuals in a population, with 0 being total equality and 1 representing absolute inequality.

Income Inequality

The disparate sharing of income among participants in an economy, be they individuals or households.

Income Distribution

The way in which total income is shared among the population or different groups within society.

Lowest Quintile

The segment of a population that falls into the bottom 20% based on income or another measurable characteristic.