In Order to Be Useful to Managers, Managerial Accounting Reports

question 88

Multiple Choice

In order to be useful to managers, managerial accounting reports should possess all of the following characteristics except

• A) provide objective measures of past operations and subjective estimates about future decisions
• B) be prepared in accordance with generally accepted accounting principles
• C) be provided at any time management needs information
• D) be prepared to report information for any unit of the business to support decision making

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Definitions:

External Validity

The degree to which a study's findings can be applied to different scenarios and various individuals.

Theoretical

Pertaining to a system of ideas intended to explain something, based on general principles independent of the thing to be explained.

Social Psychology

The scientific study of how individuals think, influence, and relate to one another within a social context.

Defining

The process of explaining the meaning of a word or term.