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:

Financial Statements

Official documents detailing a company's financial transactions and status, which encompass the income statement, balance sheet, and statement of cash flows.

Financial Accounting Standards Board

The Financial Accounting Standards Board (FASB) is an independent nonprofit organization responsible for establishing and improving financial accounting and reporting standards for the guidance and education of the public, including issuers, auditors, and users of financial information.

Verifiable Evidence

Information or data that can be substantiated or confirmed through observation, measurement, and documentation.

Proprietorships

A type of business entity that is owned and run by one individual with no legal distinction between the owner and the business.