Which of the Following Statements Are Correct

question 14

Multiple Choice

Which of the following statements are correct?
(i) Financial Accounting is required by law
(ii) Financial Accounting includes budgeting,forecasting and decision making
(iii) Management Accounting must follow a set pattern
(iv) Management Accounting includes budgeting,forecasting and decision making

• A) (i) and (iv) are correct
• B) (i), (ii) and (iii) are correct
• C) (i), (ii) and (iv) are correct
• D) All of them are correct

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Definitions:

Pro Rata

A method of allocating an amount proportionally based on a share of some total, such as time or quantity.

Financially Sound

Describes a state in which an entity is stable, profitable, and has a strong balance sheet.

Correctable Problems

Issues or challenges within an organization that can be resolved or improved upon through appropriate measures.

Target Company

A company that is the subject of a merger or acquisition by another company, often referred to in the context of takeover bids.