Management Accounting Is the Branch of Accounting Concerned with Reporting

question 5

Multiple Choice

Management accounting is the branch of accounting concerned with reporting to

• A)internal managers.
• B)shareholders.
• C)the government.
• D)bankers.

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Definitions:

General Ledger

A comprehensive record of a company's financial transactions over the life of the organization.

Journalizing Errors

Mistakes made during the recording of transactions in the accounting journals.

Computerized Accounting System

An application or software used for recording and processing accounting transactions within functional modules such as accounts payable, accounts receivable, and payroll.

Incorrect Account

An accounting error where a transaction is recorded in the wrong account, potentially misleading financial statements.