Which of the Following Items Does Not Represent a Difference

question 12

Multiple Choice

Which of the following items does not represent a difference between financial and managerial accounting?

• A)Users of the information.
• B)Flexibility of reporting.
• C)Timeliness of information.
• D)Focus of the information.
• E)Managerial accounting does not use the financial information from the financial accounting system.

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Definitions:

Scrap Value

The anticipated value of an asset when it reaches the end of its functional lifespan, commonly utilized in figuring out depreciation.

Units-Of-Activity Method

A method of depreciation that provides for depreciation expense based on each unit of activity of a fixed asset.

Depreciable Cost

The total cost of a tangible asset minus its estimated salvage value, representing the amount subject to depreciation over the asset's useful life.

Estimated Output

The anticipated quantity of products or services that a business expects to produce over a certain period.