Which of the Following Statements BEST Describes Management Accounting

question 60

Multiple Choice

Which of the following statements BEST describes management accounting?

• A)Management accounting provides information for taxing authorities.
• B)Management accounting focuses on information for internal decision making.
• C)Management accounting provides information for the public.
• D)Management accounting focuses on outside investors and lenders.

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Definitions:

AASB 11

is an accounting standard that deals with the financial reporting of interests in joint arrangements.

Joint Operations

A business activity in which two or more parties share control and are jointly responsible for management, assets, and liabilities associated with the activity.

Accumulated Depreciation

The total amount of depreciation expense that has been recorded against a company's assets over their useful lives, reducing their book value.

Initial Investment

The amount of money used to start an investment, often the starting capital for a business or financial venture.