Cost Accounting Differs from Financial Accounting in That Financial Accounting

question 42

Multiple Choice

Cost accounting differs from financial accounting in that financial accounting:

• A)Is mostly concerned with external financial reporting.
• B)Is mostly concerned with individual departments of the company.
• C)Provides the additional information required for special reports to management.
• D)Puts more emphasis on future operations.

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Definitions:

Electrical Synapses

Specialized junctions through which cells of the nervous system signal to each other via direct flow of electric current.

Myelin Sheath

A fatty layer that surrounds the axons of some nerve cells, providing insulation and speeding up electrical impulses.

Lipids

A group of naturally occurring molecules that include fats, waxes, sterols, fat-soluble vitamins, and others, serving as energy storage, structural components of cell membranes, and important signaling molecules.

EPSPs

Excitatory postsynaptic potentials, which are temporary increases in postsynaptic membrane potential caused by the flow of positively charged ions into the postsynaptic cell.