Question

Which of the following statements is/are true of good management accounting information? (1) It should always...

Which of the following statements is/are true of good management accounting information?

(1) It should always be provided regardless of its cost

(2) It is data that has been processed in such a way as to be meaningful to the person who receives it

(3) It should not be provided until it is as detailed and as accurate as possible

Which one is correct:

1 only
2 and 3 only
2 only
1 and 3 only
Business   Accounting   
0 0
Add a commentTranscribed image text
Next >

Homework Answers

Answer #1

Only the 2nd statement is true. It is data that has been processed in such a way as to be meaningful to the person who receives it.

Brief Explanation : The cost should always be considered in processing and preparation of management accounting data and it also can be provided in summerised form. So first and third statement are false and only the second statement is true. Management accounting data are prepared and presented in a meaningful manner to the users of accounting data.

Thank You..!!

0 0
Know the answer?
Your Answer:

Post as a guest

Your Name:

What's your source?

Earn Coins

Coins can be redeemed for fabulous gifts.

Log In

Sign Up

Not the answer you're looking for?
Ask your own homework help question
Similar Questions
Which of the following are true statements? The probability of an event is always at least...
Which of the following are true statements? The probability of an event is always at least 0 and at most 1. The probability that an event will happen is always 1 minus the probability that it won't happen. If two events cannot occur simultaneously, the probability that at least one event will occur is the sum of the respective probabilities of the two events a. II only b. I only c. Only I and III are true statements d. I,...
Which of the following is true regarding takeover valuation? I. The bidding firm should always use...
Which of the following is true regarding takeover valuation? I. The bidding firm should always use its own cost of capital for status quo valuation of the target firm II. It is important to avoid attributing the debt capacity of the bidder firm to the target firm when valuing the status quo value of the target firm III. Nominal cash flows should be discounted at nominal rates, not at real rates, so as to avoid incorrectly valuing the target firm's...
Which of the following statements is always true regarding accounting methods available to a partnership? a.        ...
Which of the following statements is always true regarding accounting methods available to a partnership? a.         If a partnership is a tax shelter, it cannot use the cash method of accounting. b.         If a non-tax-shelter partnership had “average annual gross receipts” of less than $26 million in the three years immediately preceding its calendar 2018 taxable year, it can use the cash method in 2018. c.         If a partnership has a partner that is a personal service corporation, it cannot...
1.Regarding the differences between financial accounting and management accounting, which of the following statements is correct?...
1.Regarding the differences between financial accounting and management accounting, which of the following statements is correct? Select one: a. Financial reports are produced at more frequent intervals than management reports b. Financial reports are prepared for internal users whereas management reports are prepared for external users c. Financial reports provide more forecast data than management reports d. Financial reports reflect past performance whereas management reports are concerned with the future as well as the past 2. The DuPont method decomposes...
Question 10 (1 point) Which of the following statements is true? a Since social benefits are...
Question 10 (1 point) Which of the following statements is true? a Since social benefits are greater than the private benefits, the government must either aid the producer to encourage more output, or engage in its own production of the good with positive externalities. b Positive externalities occur when a third party is affected by the transaction in a negative way. c In a market with positive externalities, the good is “underproduced” because the producer is not bearing the full...
Question 4 (1 point) Which of the following statements is true? a Excludability occurs when one’s...
Question 4 (1 point) Which of the following statements is true? a Excludability occurs when one’s consumption of a good makes it unavailable for others, and it comes in units that are small enough to be afforded by individual buyers. b Rivalry occurs when those who are unable and unwilling to pay for the good do not have access to the benefits of the good. c Since private goods have rivalry and excludability, private, firms can produce and sell them...
Which of the following statements about a scattergraph is correct? Multiple Choice it is the most...
Which of the following statements about a scattergraph is correct? Multiple Choice it is the most accurate way of estimating the variable and fixed elements of a fixed cost it is an effective way of determining if the cost behaviour is linear it will always yield the same results as the high-low method provides only one correct cost formula in the form of Y=a+bx
1 - Which of the following statements is true regarding a 95% confidence interval? Assume numerous...
1 - Which of the following statements is true regarding a 95% confidence interval? Assume numerous large samples are taken from the population. a. In 95% of all samples, the sample proportion will fall within 2 standard deviations of the mean, which is the true proportion for the population. b. In 95% of all samples, the true proportion will fall within 2 standard deviations of the sample proportion. c. If we add and subtract 2 standard deviations to/from the sample...
which of the following statements is true regarding the flow of accounting information? a. the account...
which of the following statements is true regarding the flow of accounting information? a. the account balances in the adjusted trial balance are used to prepare financial statements for the current accounting period b. transactions are first recorded in the ledger accounts and then transferred to the accounting journals c. the net income (revenue less expenses) as reported on the income statement is also reported on the balance sheet d. the dividends reported on the statement of retained earnings are...
Which of the following statements regarding activity-based management is true? Select one: A. Activity-based management is...
Which of the following statements regarding activity-based management is true? Select one: A. Activity-based management is concerned primarily with calculating the cost of products accurately B. Activity-based-management focuses managerial attention on what is most important among the activities performed to create value for customers. C. Activity-based management is not possible unless activity-based costing is also used for product costing D. All of the statements are true
ADVERTISEMENT
Need Online Homework Help?

Get Answers For Free
Most questions answered within 1 hours.

Ask a Question
ADVERTISEMENT