________ Gathers, Summarizes, and Reports on the Financial Impact of Changes

question 176

Multiple Choice

________ gathers, summarizes, and reports on the financial impact of changes to business operations.

• A)Managerial accounting
• B)Planning
• C)Directing
• D)Controlling

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Definitions:

Cash Payment

A transaction in which a payment is made using physical currency or through a digital cash transfer rather than credit.

Deferred Tax Asset

An asset on a company's balance sheet that may be used to reduce future tax liability; it arises when a company has overpaid taxes or paid them in advance.

Wages Expense

An accounting term that refers to the total cost incurred by a company to pay its employees, recognized in the period employees perform the work.

Book Purposes

Refers to accounting methods and practices used to prepare financial statements for regulatory reporting, as opposed to tax calculations.