Questions
PMGT2850 (ND) Class Quiz 5
Multiple choice
Which statements are true for management accounting? (select all that apply)
Options
A.Focused internally – providing information to parties within the organisation
B.Keeps a record of all the financial transactions, payments in and payments out, together with a list of creditors and debtors
C.Focused on achieving organisational goals and making managerial decisions
D.Assist management decision-making with respect to estimating, planning, budgeting, implementation and control
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Step-by-Step Analysis
When assessing statements about management accounting, I’ll evaluate each option for whether it aligns with the typical purpose and characteristics of management accounting.
Option 1: 'Focused internally – providing information to parties within the organisation' This is a core feature of management accounting. It is designed to serve internal stakeholders (managers and departments) with infor......Login to view full explanationLog in for full answers
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Information provided by management accounting is typically:
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"Management Accounting" and "Financial Accounting:" One of these types of accounting furnishes information to individuals and groups both INSIDE and OUTSIDE the organization to help them assess the firm's financial performance The other focuses on providing information to decision makers INSIDE the organization to help them operate the business. Which of the two types of accounting is for decision makers INSIDE the organization?
Tools in management accounting primarily support which stakeholder?
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