Asked by
Tanisha Pillai
on Nov 13, 2024
Verified
In order to be useful to managers, managerial accounting reports should possess all of the following characteristics except
A) provide objective measures of past operations and subjective estimates about future decisions
B) be prepared in accordance with generally accepted accounting principles
C) be provided at any time management needs information
D) be prepared to report information for any unit of the business to support decision making
Managerial Accounting
The method of pinpointing, quantifying, examining, and conveying fiscal data to management to achieve a company's objectives.
Objective Measures
Quantitative assessments that are based on observable data and are not influenced by personal feelings or opinions.
Subjective Estimates
Judgments or opinions used in decision-making or accounting that are based on personal feelings or beliefs rather than on precise measurement.
- Recognize the characteristics and requirements of managerial accounting reports versus financial accounting reports.
Verified Answer
BC
Learning Objectives
- Recognize the characteristics and requirements of managerial accounting reports versus financial accounting reports.