The Focus of Management Accounting Over Time Has Changed

question 63

Multiple Choice

The focus of management accounting over time has changed. Which is the correct historical order for the following foci?
i. Cost
ii. Profitability
iii. Resource management
iv. Waste reduction

• A) i, ii, iii and iv
• B) ii, iii, i and iv
• C) i, ii, iv and iii
• D) i, iii, iv and ii

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Definitions:

Wheat

A cereal grain that is a worldwide staple food, grown in countless varieties.

Cattle

Domesticated bovine animals that are raised for various purposes including meat (beef and veal), dairy products, leather, and as draught animals.

Opportunity Cost

Opportunity Cost is the value of the best alternative that is foregone when a particular decision is made.

Microchip

A small semiconductor device containing integrated circuits used in various electronic devices for processing, memory, or specific control functions.