Managerial Accounting Emphasizes the Future in Addition to Historical Reports

question 28

Multiple Choice

Managerial accounting emphasizes the future in addition to historical reports, whereas financial accounting:

• A)emphasizes a historical perspective.
• B)emphasizes timeliness.
• C)emphasizes a future perspective.
• D)emphasizes individual organizational units.

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Definitions:

Episodic Memory

A category of enduring memory tasked with retrieving distinct occurrences, scenarios, and impressions, along with the settings and emotional responses related to them.

Nondeclarative Memories

Nondeclarative memories involve knowledge or skills one can express through performance rather than conscious recollection, such as riding a bike or playing an instrument.

Declarative Memories

Recollections accessible to our conscious mind, comprising knowledge and events.

Semantic Memory

Semantic memory refers to a portion of long-term memory that processes ideas and concepts that are not drawn from personal experience, such as facts, meanings of words, and general knowledge of the world.