Which statement is false? a. Management accounting makes use of both quantitative and qualitative information for maximum use of management b. Financial accounting emphasizes current and future data while management accounting is essentially historical. c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting. d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
Which statement is false? a. Management accounting makes use of both quantitative and qualitative information for maximum use of management b. Financial accounting emphasizes current and future data while management accounting is essentially historical. c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting. d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...
Related questions
Question
Which statement is false?
a.
b. Financial accounting emphasizes current and future data while management accounting is essentially historical.
c. Management accounting covers a much broader scope, for it goes beyond the boundaries of traditional accounting.
d. Management accounting information merely assist managers in rendering judgment, but it is not a substitute for judgment.
Expert Solution
This question has been solved!
Explore an expertly crafted, step-by-step solution for a thorough understanding of key concepts.
Step by step
Solved in 3 steps
Knowledge Booster
Learn more about
Need a deep-dive on the concept behind this application? Look no further. Learn more about this topic, accounting and related others by exploring similar questions and additional content below.Recommended textbooks for you
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
Principles of Accounting Volume 2
Accounting
ISBN:
9781947172609
Author:
OpenStax
Publisher:
OpenStax College
Managerial Accounting: The Cornerstone of Busines…
Accounting
ISBN:
9781337115773
Author:
Maryanne M. Mowen, Don R. Hansen, Dan L. Heitger
Publisher:
Cengage Learning
Financial Reporting, Financial Statement Analysis…
Finance
ISBN:
9781285190907
Author:
James M. Wahlen, Stephen P. Baginski, Mark Bradshaw
Publisher:
Cengage Learning
Auditing: A Risk Based-Approach (MindTap Course L…
Accounting
ISBN:
9781337619455
Author:
Karla M Johnstone, Audrey A. Gramling, Larry E. Rittenberg
Publisher:
Cengage Learning
Financial Accounting: The Impact on Decision Make…
Accounting
ISBN:
9781305654174
Author:
Gary A. Porter, Curtis L. Norton
Publisher:
Cengage Learning
Principles of Accounting Volume 1
Accounting
ISBN:
9781947172685
Author:
OpenStax
Publisher:
OpenStax College