Which of the Following Statements Is Not True

question 3

Multiple Choice

Which of the following statements is not true?

• A)A company is unlikely to be successful in the long run without adequate managerial accounting information to support decision making.
• B)Managerial accounting is completely optional.
• C)Managerial accounting reports are covered by rules comparable to those governing financial accounting.
• D)Internal users have access to all the underlying data in managerial accounting reports.

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Definitions:

Finished Goods

Products that have completed the manufacturing process and are ready to be sold to customers.

Custom Designed

Refers to products or solutions specifically crafted to meet the unique requirements or specifications of a customer.

Raw Materials

Basic materials that are used in the initial stages of production and manufacturing processes.

Invoice

Bill for goods or services provided by the seller to the purchaser.