When was the term Management Accounting coined? i) 1970 ii) 1950 iii) 1940 iv) 1931 2. Where is management accounting applied? i) Small trading organisations ii) NPOs iii) Cooperative societies iv) Large industrial and trading organisations

When was the term Management Accounting coined? i) 1970 ii) 1950 iii) 1940 iv) 1931 2. Where is management accounting applied? i) Small trading organisations ii) NPOs iii) Cooperative societies iv) Large industrial and trading organisations

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

1. When was the term Management Accounting coined?
i) 1970
ii) 1950
iii) 1940
iv) 1931

2. Where is management accounting applied?

i) Small trading organisations
ii) NPOs
iii) Cooperative societies
iv) Large industrial and trading organisations

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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