Which statement is false? a. Management accounting makes use of both quantitative and qualitative information for maximum use of management b. Financial accounting emphasizes current and future data while management accounting is essentially historical. c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting. d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
Which statement is false? a. Management accounting makes use of both quantitative and qualitative information for maximum use of management b. Financial accounting emphasizes current and future data while management accounting is essentially historical. c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting. d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which statement is false?
a.
b. Financial accounting emphasizes current and future data while management accounting is essentially historical.
c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting.
d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
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