Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

Question

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Answer 1

Question

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

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Answer 2

Question

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

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Answer 3

Question

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

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Answer 4

Question

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

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Answer 5

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

Answer 6

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

Answer 7

Chapter 14, Problem 1Q

(a)

To determine

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

Answer 8

(a)

Expert Solution

Answer to Problem 1Q

Disagree

Answer 9

(a)

Expert Solution

Answer 10

(a)

Expert Solution

Answer 11

Expert Solution

Answer 12

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

In the field of accounting, the managerial accounting provides both economic and financial information for managers and other internal users. Thereby, it does not provide economic information for all interested parties.

Answer 13

Conclusion

Thus, the term managerial accounting is a field of accounting that provides economic information for all interested parties is disagreed.

Answer 14

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

Answer 15

(b)

To determine

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

Answer 16

(b)

Expert Solution

Answer to Problem 1Q

J is incorrect.

Answer 17

(b)

Expert Solution

Answer 18

(b)

Expert Solution

Answer 19

Expert Solution

Answer 20

Explanation of Solution

Managerial accounting: Managerial accounting is the process of interpreting the financial information, and communicating it to the internal users, and managers in order to help them in the decision making process to achieve the goals of the organization.

This is because managerial accounting applies to all types of businesses such as service, merchandising and manufacturing. Thereby, it cannot serve only the manufacturing firms. Hence, J’s belief is incorrect.

Answer 21

Conclusion

Hence, the belief of J that the managerial accounting serves only manufacturing firms of J is incorrect.

Answer 22

Ch. 14 - Prob. 1Q Ch. 14 - Prob. 2Q Ch. 14 - Prob. 3Q Ch. 14 - Prob. 4Q Ch. 14 - Prob. 5Q Ch. 14 - Prob. 6Q Ch. 14 - Prob. 7Q Ch. 14 - Prob. 8Q Ch. 14 - Prob. 9Q Ch. 14 - Prob. 10Q

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

Explain the term managerial accounting is a field of accounting that provides economic information for all interested parties.

Answer to Problem 1Q

Explanation of Solution

Explain the belief of J that the managerial accounting serves only manufacturing firms of J, is correct.

Answer to Problem 1Q

Explanation of Solution

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Chapter 14 Solutions