Choose the Statement That Best Completes This Sentence: 'Conventional Management

question 50

Multiple Choice

Choose the statement that best completes this sentence: 'Conventional management accounting focuses on …'

• A) budgets,financial performance measures and cost control
• B) financial performance measures,external reporting and cost elimination
• C) non-financial performance measures,external reporting and cost control
• D) external reporting,labour-related activity measures and cost elimination

---

Definitions:

Consumer Surplus

The disparity between the total sum consumers are ready to pay for a product or service and the actual amount they end up spending.

Producer Surplus

The difference between what producers are willing to accept for a good or service and the actual price they receive, reflecting extra benefit or profit.

Tax

Compulsory financial charge or some other type of levy imposed upon a taxpayer by a governmental organization in order to fund government spending and various public expenditures.

Deadweight Loss

The reduction in economic productivity resulting from a failure to reach or the impossibility of reaching the market equilibrium for a particular product or service.