Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.

Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...
icon
Related questions
Question
Which of the following statements does not describe a characteristic of management accounting?
A) Management accounting places a great deal of emphasis on the future.
B) Management accounting must conform to GAAP.
C) Management accounting is more concerned with individual segments of the organization
rather than with the organization as a whole.
D) Approximate amounts rather than accurate amounts are often used in management
accounting.
E) More than one of the above statements does not describe a characteristic of management
accounting.
Transcribed Image Text:Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.
Expert Solution
steps

Step by step

Solved in 2 steps

Blurred answer
Similar questions
  • SEE MORE QUESTIONS
Recommended textbooks for you
Principles of Accounting Volume 2
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Auditing: A Risk Based-Approach (MindTap Course L…
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach to Conducting a Q…
Auditing: A Risk Based-Approach to Conducting a Q…
Accounting
ISBN:
9781305080577
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
South-Western College Pub
Managerial Accounting
Managerial Accounting
Accounting
ISBN:
9781337912020
Author:
Carl Warren, Ph.d. Cma William B. Tayler
Publisher:
South-Western College Pub