Management Accounting ________

question 4

Multiple Choice

Management accounting ________.

• A) focuses on estimating future revenues, costs, and other measures to forecast activities and their results
• B) provides information about the company as a whole
• C) reports information that has occurred in the past that is verifiable and reliable
• D) provides information that is generally available only on a quarterly or annual basis

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Definitions:

Expenses and Losses

Costs incurred in the operation of a business (expenses) and decreases in value not directly related to operations (losses).

Depreciation

Depreciation is the systematic allocation of the cost of a tangible asset over its useful life, reflecting its consumption, wear and tear, or obsolescence.

Direct Method

A cash flow statement approach that lists major classes of gross cash receipts and payments.

Revenues and Gains

Income generated from normal business operations and other positive financial events.