Both Financial and Managerial Accounting Rely on the Same Underlying

question 2

Multiple Choice

Both financial and managerial accounting rely on the same underlying financial data but there are major differences.Managerial Accounting:

• A) emphasizes financial consequences of past activities.
• B) emphasizes precision.
• C) emphasizes relevance.
• D) must follow GAAP.

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Definitions:

Goal Difficulty

The degree of difficulty and the amount of effort needed to reach a goal.

Satisfaction

The feeling of pleasure or contentment that comes from fulfilling or being fulfilled by something.

Goal Setting

The process of identifying specific, measurable, achievable, relevant, and time-bound objectives to be accomplished.

Rewards

Are positive reinforcements given to employees or individuals as recognition for their efforts, achievements, or behavior.