In Comparison with a Financial Statement Prepared in Conformity with Generally

question 46

Multiple Choice

In comparison with a financial statement prepared in conformity with generally accepted accounting principles,a managerial accounting report is less likely to:

• A)Focus upon the entire organization as the accounting entity.
• B)Focus upon future accounting periods.
• C)Make use of estimated amounts.
• D)Be tailored to the specific needs of an individual decision maker.

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Definitions:

High Need

A strong requirement or desire for something, which can drive behavior and motivation in both personal and professional contexts.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow that outlines a hierarchy of human needs, from basic physiological needs to self-actualization, suggesting that higher needs can only be pursued once foundational ones are met.

Physiological Needs

Basic requirements for human survival, such as food, water, shelter, and clothing, which are the foundation of Maslow's Hierarchy of Needs.

Security

Measures taken to guard against crime, attack, sabotage, espionage, and other threats to personal or organizational safety and well-being.