Which One of the Following Statements Does Not Describe Management

question 1

Multiple Choice

Which one of the following statements does not describe management accounting?

• A) Management accounting information is concerned with reporting outcomes of past events to users external to the organisation.
• B) Management accounting is concerned with reporting accounting and cost information to users within an organisation.
• C) Management accounting information is used to plan levels of production and activity in the future.
• D) Management accounting information is mostly concerned with the present and the future.

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Definitions:

Expense

A cost incurred in running a business by consuming goods or services in producing revenue. A subdivision of owner’s equity.

Liability

Financial debts or obligations that arise during the course of business operations, needing to be settled over time.

Bond Interest Expense

Represents the cost incurred by an entity for borrowing funds through the issuance of bonds, calculated as the bond's face value multiplied by the interest rate.

Issued At

Refers to the price or condition under which securities, such as bonds or stocks, are made available for sale when they first come to market.