BUSINESS ADMINISTRATION
FINANCIAL ACCOUNTING
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Question
[CLICK ON ANY CHOICE TO KNOW THE RIGHT ANSWER]
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Which of the following original Management Accounting objects can you assign in the asset master record?Choose the correct answers. (3)
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Activity type
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Order
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Cost element
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Cost center
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Explanation:
Detailed explanation-1: -The asset master record is where we enter all the static attributes of a fixed asset in the system. We create asset master records anytime we acquire a new fixed asset. In our example, we’ll assume our company just bought a new vehicle and we need to create the asset master record.
Detailed explanation-2: -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.
Detailed explanation-3: -What is the main objective of management accounting? To identify and analyse the result of business operations.
There is 1 question to complete.