Managerial Accounting Has Changed in Recent Years Because Of

question 7

Multiple Choice

Managerial accounting has changed in recent years because of:

• A)the growth of e-business.
• B)increased global competition.
• C)the emergence of new industries.
• D)an increased focus on the customer.
• E)All of these factors.

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Definitions:

Variable Input

A variable input is one whose amount can be adjusted in the short term to either raise or lower output levels.

MRP

Acronym for Marginal Revenue Product, which measures the addition to total revenue resulting from the sale of the output produced by one more unit of a variable input.

Haircuts

Often used as an example in economics, referring to a service that cannot be stored, saved, or inventoried, and must be consumed at the point of production.

MRP

Material Requirements Planning, a planning and inventory control system used to manage manufacturing processes.