Which of the Following Statements Is INCORRECT

question 53

Multiple Choice

Which of the following statements is INCORRECT?

• A) Managerial accounting is used to plan and control business operations.
• B) Managerial accounting is used to report the company's financial position and results of operations to creditors and investors.
• C) Managerial accounting is used to prepare budgets.
• D) Managerial accounting is used to determine the cost of products and services.

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Definitions:

Measured Value

A quantitative assessment obtained by measurement of a particular attribute or property.

Median

The middle value in a data set, which divides the set into two equal halves.

Test Scores

Numerical values assigned to represent an individual's performance on a test or examination, often used for assessment or comparison.

Complete Survey

A thorough examination or appraisal of the condition or status of something, particularly in research or data collection contexts.