Which of the Following Statements About Cost Accounting Systems Is

question 69

Multiple Choice

Which of the following statements about cost accounting systems is FALSE?

• A)The cost accounting system provides the cost data that managers use for decision making.
• B)The cost accounting system is the most fundamental component of a cost management system.
• C)A cost accounting system that provides accurate information is a key success factor for all types of organizations.
• D)The cost accounting system does not provide data for financial reports.

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Definitions:

Intuitive

Pertaining to using or based on what one feels to be true even without conscious reasoning; instinctive.

Programmed Decisions

Decision-making processes that are routine and repetitive, often automated or guided by established policies and procedures.

"If-then" Decision Rules

Logical constructs used in decision-making that trigger specific actions if certain conditions are met.

Framing Error

A cognitive bias where information is perceived and interpreted through a subjective lens, potentially leading to misconceptions.