In Order to Provide Managers with Environmental Information, Accountants Will

question 120

Multiple Choice

In order to provide managers with environmental information, accountants will need to rethink their traditional views on what constitutes a "cost" and do which of the following?

• A)Focus on the traditional accounting system
• B)Expand their costing system to provide more detailed information
• C)Reject any change
• D)None of the above

---

Definitions:

Outstanding Shares

The total number of shares of a corporation's stock that are currently owned by all its shareholders, including shares held by institutional investors and restricted shares owned by the company’s officers and insiders.

Cumulative Voting

A method of voting used in corporate elections that allows shareholders to allocate their total votes in any proportion among candidates.

Articles Of Incorporation

A document that contains basic information about a corporation and is filed with the state.

RMBCA

Stands for the Revised Model Business Corporation Act, a template for state laws regulating the formation, operation, and dissolution of corporations.