Financial and Managerial Accounting Are Similar in That Both

question 26

Multiple Choice

Financial and managerial accounting are similar in that both

• A)are mandatory.
• B)involve summarising financial data.
• C)emphasise the relevance and flexibility of data.
• D)emphasise the organisation as a whole.

---

Definitions:

Exempt Amount

The portion of income or value that is not subject to tax or is excluded from calculation under certain conditions or allowances.

Family And Medical Leave Act

A U.S. law that provides employees with unpaid, job-protected leave for family and medical reasons, with continuation of group health insurance coverage.

Market Value

The current price at which an asset or service can be bought or sold in a marketplace.

Health Maintenance Organizations

A type of health insurance plan that provides comprehensive health services to members for a fixed, prepaid fee, emphasizing preventative care.