BUSINESS ADMINISTRATION
ACCOUNTING FOR MANAGEMENT
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Planning
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Control
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Decision Making
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Review
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Detailed explanation-1: -The main objective of managerial accounting is to maximize profit and minimize losses. It is concerned with the presentation of data to predict inconsistencies in finances that help managers make important decisions. Its scope is quite vast and includes several business operations.
Detailed explanation-2: -Answer and Explanation: The correct answer to this question is: b) Provide information managers need for market-wide interest.
Detailed explanation-3: -Managerial accounting is used for planning, decision-making, and controlling. These are the three pillars of the field. In addition, forecasting and performance tracking are key components.
Detailed explanation-4: -Managerial accounting is the type of accounting that provides financial information to managers and decision-makers within a company. Managerial accounting often involves various financial metrics, including revenue, sales, operating expenses, and cost controls.