Answered: Which of the following are…

Business

Accounting

Which of the following are characteristics of management accounting information?

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

Which of the following are characteristics of management accounting information?

1. Non-financial as well as financial

2. Used by all stakeholders

3.Concerned with cost control only

4. Not legally required

a) 1 and 4

b) 2 and 3

c) 1, 2, and 3

d) 2, 3, and 4

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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