Managerial Accounting Differs from Financial Accounting Because It Focuses on the Future

question 103

True/False

Managerial accounting differs from financial accounting because it focuses on the future rather than historical transactions.

---

Definitions:

Time

A continuous, measurable quantity in which events occur in a sequence from the past through the present to the future.

Simple Interest

Interest computed on the original sum of a loan or deposit, not including the effects of compounding throughout the duration.

Simplification

The process of reducing a mathematical expression or equation to its simplest form.

Like Terms

Terms in an algebraic expression that have the same variable factors and thus can be combined or simplified.