All of the Following Are Reasons to Study Management Accounting

question 171

Multiple Choice

All of the following are reasons to study management accounting except:

• A) to help a person become a chartered accountant in the United States
• B) a person will become a better manager
• C) there will be more career opportunities
• D) None of these answers is correct.

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Definitions:

Net Income

The amount of profit remaining after all operating expenses, taxes, and interest have been deducted from total revenue.

Adjusted Trial Balance

An Adjusted Trial Balance is a listing of all company accounts that will appear in the financial statements after year-end adjustments are made.

Financial Statement Column(s)

These are the columns in financial statements such as balance sheets and income statements, organizing financial information into categories like assets, liabilities, revenues, and expenses.

Net Income

The total profit of a company after all expenses, taxes, and costs have been deducted from total revenue.