Managerial Accounting Information

question 151

Multiple Choice

Managerial accounting information:

• A) Is used mainly by external users.
• B) Involves gathering information about costs for planning and control decisions.
• C) Is generally the only accounting information available to managers.
• D) Can be used for control purposes but not for planning purposes.
• E) Has little to do with controlling costs.

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Definitions:

Confabulation

A memory disturbance characterized by the production of fabricated, distorted, or misinterpreted memories about oneself or the world, without the conscious intention to deceive.

Flashbulb Memory

Highly detailed, exceptionally vivid 'snapshot' of the moment and circumstances in which a piece of surprising and consequential news was heard.

Repression

A defense mechanism where unpleasant thoughts, memories, or desires are unconsciously excluded from consciousness.

Decay Theory

A theory suggesting that memory fades due to the mere passage of time, unless it is actively rehearsed.