Question

TRUE OR FALSE

2) The managerial accountant's primary role in the decision-making process is to decide what information is relevant to the problem and provide timely and accurate data.

3) In the final analysis of a decision, quantitative measures are more important than qualitative measures.

4) The concept of a relevant cost can be defined as a past cost that differs among alternatives.

5) In most all decisions, joint costs are relevant costs

Answer 1

2. True

Accountants have a very important role in decision making, especially when related to investments to decide what information is relevant to the problem and provide timely and accurate data.

3. False

Quantity day gets you the numbers to prove the broad general points of your research. Qualitative data brings you the details and the depth to understand their full implications both are complementary to each other. So,it cannot be decided that quantitative is more important in the qualitative.

4. False

Relevant costs are the future costs that will differ among alternatives.

5.True

It is a process in which seeking to create one type of output product automatically also creates other types of output product.

So the cost relevant to the joint cost is relevant cost to the production