Which of the Following Statements Is TRUE About Managerial Accounting

question 143

Multiple Choice

Which of the following statements is TRUE about managerial accounting information?

• A) It is prepared annually and quarterly.
• B) It is audited.
• C) It emphasizes relevance.
• D) It must be prepared in conformity with generally accepted accounting principles (GAAP).

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Definitions:

Socioeconomic Group

A socioeconomic group is a segment of society classified according to a combination of factors such as income, occupation, and education, which typically influences people’s lifestyle, behavior, and attitudes.

Informal Economy

Economic activities that occur outside of government regulation or taxation systems.

Benefit Corporation (B-Corp)

A legal entity explicitly organized with an additional focus beyond making money.

Carbon Use

The consumption of carbon-based fuels and the resulting output of carbon dioxide and other greenhouse gases into the atmosphere.