Managerial Accounting Would Use Which of the Following Types of Information

question 126

Multiple Choice

Managerial accounting would use which of the following types of information?

• A)Forecasts of future earnings
• B)Financial information
• C)Nonfinancial information
• D)All of the above

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Definitions:

Adjusted Trial Balance

A list of all accounts and their final balances after all end-of-period adjusting entries have been made, used to prepare financial statements.

Revenue Recognition

The accounting principle that determines the specific conditions under which revenue is recognized and recorded in financial statements.

Income Taxes

Taxes levied by the government on the income of individuals or corporations.

Adjusting Entries

Recordings at the period's end in accounting to accurately assign earnings and costs to the time they happened.