Managerial Accounting Is Used by Managers to

question 82

Multiple Choice

Managerial accounting is used by managers to

• A)assure appropriate use of an organization's resources.
• B)assure accountability for an organization's resources.
• C)provide information used in planning,evaluation and controlling functions within an organization.
• D)assure appropriate use of an organization's resources,accountability for an organization's resources,and provides information used in planning,evaluation and controlling functions within an organization.

---

Definitions:

Elastic

A characteristic of goods or services with demand sensitive to changes in price, wherein a small change in price leads to a significant change in the quantity demanded or supplied.

Complementary Products

Goods or services that are used together, enhancing the value of each other when consumed or utilized in combination.

Price Inelastic

A situation in which the demand for a product does not change significantly in response to a change in its price.

Quantity Demanded

The total amount of a product that consumers are willing and able to purchase at a specific price in a given time period.