6-Which of the following statements is not true? a. Management accounting information is primarily prepared for internal use b. Management accounting provides quantitative as well as qualitative information c. Management accounting practices are laid down by Accounting Standards Board (ASB)

6-Which of the following statements is not true? a. Management accounting information is primarily prepared for internal use b. Management accounting provides quantitative as well as qualitative information c. Management accounting practices are laid down by Accounting Standards Board (ASB)

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

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...

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Question

6-Which of the following statements is not true?

Management accounting information is primarily prepared for internal use

Management accounting provides quantitative as well as qualitative information

Management accounting practices are laid down by Accounting Standards Board (ASB)

Management accounting is future oriented

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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