A Distinguishing Feature of Managerial Accounting Is

question 58

Multiple Choice

A distinguishing feature of managerial accounting is

• A) external users.
• B) general-purpose reports.
• C) very detailed reports.
• D) quarterly and annual reports.

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Definitions:

Market

A place or mechanism where buyers and sellers converge to trade goods, services, or resources.

Production Possibility Frontier

A curve representing the maximum combinations of goods or services that can be produced with limited resources.

Bowed Out

A description usually of production possibilities frontier that shows increasing opportunity costs.

Command Economy

An economic system in which the government or central authority makes all decisions about the production and distribution of goods and services.