Flexibility of Practice When Applied to Managerial Accounting Means That

question 158

Multiple Choice

Flexibility of practice when applied to managerial accounting means that

• A)The information must be presented in electronic format so that it is easily changed.
• B)Managers must be willing to accept the information as the accountants present it to them,rather than in the format they ask for.
• C)The managerial accountants need to be on call twenty-four hours a day.
• D)Managerial accounting system differ across companies depending on the nature of the business and the arrangement of its internal operations.
• E)Managers must be flexible with information provided in varying forms and using inconsistent measures.

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Definitions:

Product Market

A marketplace where final goods or services are offered to consumers, businesses, and the government.

Corporate Income Tax

A tax imposed by governments on the income generated by businesses and corporations.

Government Provision

The supply of goods, services, or resources by the government to its citizens, which can include healthcare, education, and infrastructure.

Business Property Tax

A tax imposed on the real estate, equipment, and sometimes the inventory of a business.