Much of Managerial Accounting Information Is Based On

question 56

Multiple Choice

Much of managerial accounting information is based on:

• A)a cost-benefit theme.
• B)profit maximization.
• C)cost minimization.
• D)the generation of external information.
• E)effectiveness but not efficiency.

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Definitions:

Restatement (Second) of Contracts

A legal treatise offering a comprehensive summary of contract law in the United States, aimed at clarifying, restating, and simplifying the law.

Classical Law

A framework or school of thought in legal theory that emphasizes abstract logical reasoning and the universality of legal principles, often associated with ancient Roman and Greek law systems.

Fairness

The quality of making judgments that are unbiased, equitable, and just.

Unconscionability

A legal doctrine that describes terms that are so extremely unjust, or overwhelmingly one-sided in favor of one party, that they are contrary to good conscience.