Which of the Following Statements Is INCORRECT

question 101

Multiple Choice

Which of the following statements is INCORRECT?

• A)Management accounting information is required to comply with accounting standards.
• B)Management accounting information does not require an external audit.
• C)The primary users of management accounting are the company's managers.
• D)Management accounting information is used to help managers plan and control their operations.

---

Definitions:

Capital Substitute

An investment or process that replaces or reduces the need for capital investment, often through technology or innovative methods.

Unionized

The state of being organized into a union or labor organization to negotiate collectively with employers.

National Income

The total amount of money earned within a country from its economic activities in a given period, typically measured as GDP minus income from abroad plus income from foreign sources.

Labor Force

The total number of people employed or seeking employment in a country or specific area.