? Why does representational depth affect accountingmeasurement choices?a) Complex economic events demand multi-levelmeasurement approachesb) Simple measures capture all eventsc) Surface measurements suffice alwaysd) Depth considerations waste time

Explanation of Representational Depth: Representational depth in accounting refers to the level of…

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Managerial Accounting

15th Edition

ISBN:9781337912020

Author:Carl Warren, Ph.d. Cma William B. Tayler

Publisher:Carl Warren, Ph.d. Cma William B. Tayler

Chapter10: Evaluating Decentralized Operations

Section: Chapter Questions

Problem 12E

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Which of the following statements is false? Multiple Choice In general, the term expense is used for managerial purposes, while the term cost refers to external financial reports. An opportunity cost is the benefit forgone by selecting one alternative over another. An outlay cost is a past, present, or future cash outflow. A cost is a sacrifice of resources.
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The definition of Materiality is: c. accuracy is always the most important consideration regardless of cost a. amount is large enough to have a significant impact on financial statements Od. IFRS is more authoritative than GAAP b. mistakes don't need to be corrected Sil
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Why does representational depth affect accounting measurement choices? a) Complex economic events demand multi-level measurement approaches b) Simple measures capture all events c) Surface measurements suffice always d) Depth considerations waste time