In management accounting, an emphasis and focus must be __________?
Correct answer: B. future oriented
- A. past oriented
- B. future oriented
- C. communication oriented
- D. bank oriented
Explanation
Management accounting is future-oriented because managers use forecasts, budgets, and relevant cost information to plan and make decisions. Financial accounting is more strongly concerned with reporting past transactions.
Report an error
The more specific you are, the faster it gets fixed. A source beats an opinion.
Prefer email? [email protected]
About Cost Accounting
Cost accounting measures and analyses the cost of producing goods or providing services for planning, control and pricing decisions. It covers direct and indirect costs, fixed and variable costs, job and process costing, break-even analysis, marginal costing, overhead allocation, and the difference between product cost and period cost.
Practise Cost Accounting
941 free Cost Accounting MCQs from Accounting, each with the correct answer and an explanation. Unlimited attempts, no account needed.
Discussion
Stuck on an option, or know a faster way to get there? Ask or explain it here.
No comments yet. Be the first to explain this one.
Exams that ask Accounting questions like this
Accounting is on 2 papers prepared for on TestUstad, and all of them draw the same bank, so this question is worth knowing for every one of them.
More Cost Accounting questions
The experimentation and generation of ideas related to new product or services are included in ____________?
Marketing, production and management of distribution comes under the category of ___________?
The function of plant manager, in which he is responsible for new assets investment is termed as _____________?
An availability of after sale support, to the existing or potential customers in value chain analysis is known as ___________?
The decisions regarding usage of material, kind and changes in plant processing are a part of ____________?
The flow of goods and services, from the start of gathering materials until the delivery of products, is known as __________?