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.

---

Definitions:

Diminishing Marginal Utility

The decrease in satisfaction or utility that a person derives from consuming each additional unit of a good or service.

Demand Curves

A graphical representation that shows the relationship between the price of a product and the quantity of the product that consumers are willing and able to purchase at various prices.

Marginal Utility

The extra value or satisfaction garnered by a consumer with the acquisition of one more unit of a good or service.

Total Utility

The overall satisfaction or happiness received from consuming a certain amount of goods or services.