In General,it Was Not Until the 1970s That Management Accounting

question 14

Multiple Choice

In general,it was not until the 1970s that management accounting systems:

• A)were improved because of demands by the FASB and the SEC.
• B)stagnated and proved inadequate.
• C)started to develop innovations in costing and performance-measurement systems due to intense pressure from overseas competitors.
• D)started to address the decision-making needs of managers.

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Definitions:

Collaboration

A conflict management style in which the person works through conflict differences and solves problems so everyone wins.

Win-win Conflict

A conflict resolution outcome where all parties involved achieve their objectives or benefit mutually.

Equilibrium Quantity

The quantity of goods or services that is supplied and demanded at the equilibrium price, where the quantity supplied equals the quantity demanded.

Oligopoly

A market structure characterized by a small number of large firms that have significant control over prices and market share.