What Is the Primary Objective of the Cost Management Information

question 54

Multiple Choice

What is the primary objective of the cost management information system?

• A)to provide shareholders and potential investors with useful information for decision making
• B)to provide banks and other creditors with information useful in making credit decisions
• C)to provide management with information useful for planning and control of operations
• D)to provide the Canada Revenue Agency with information about taxable income

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Definitions:

December 31

The last day of the year, commonly used as the end date for annual financial statements and reports.

Cash Equivalents

Brief-duration investments that can be easily converted into specific cash amounts and are highly liquid.

Human Error

Mistakes made by people, often attributed to factors such as misjudgment, confusion, or oversight.

Human Fraud

Intentional trickery by members of an organization aimed at obtaining an unethical or illegal advantage.