Managerial Accounting

question 16

Multiple Choice

Managerial accounting

• A)information generally pertains to an entity as a whole and is very detailed.
• B)applies only to manufacturing companies.
• C)focuses primarily on reports for both internal and external users.
• D)provides tools that help management make decisions and evaluate the effectiveness of those decisions.

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Definitions:

Contractual Obligation

A legally binding agreement between parties that specifies actions or non-actions that are required to be completed.

Pay Cash

The act of making a payment for goods or services with physical currency or through a cash equivalent transaction.

Harmonized Sales Tax

A combined tax that merges a country's federal tax system with that of its states or provinces, used in some countries including Canada.