Managerial Accounting Focuses on Information for Decision Makers Outside of the Business,such

question 132

True/False

Managerial accounting focuses on information for decision makers outside of the business,such as creditors and taxing authorities.

---

Definitions:

Patent Account

An account on the balance sheet that represents the value of patents a company owns, which are intangible assets.

Net Adjustment

Modifications made to the net income or net loss of a company to reconcile with cash flow or other financial statements.

Unamortized Patent

The cost of a patent that has not yet been gradually written off against profits over its useful life.