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Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.

Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.

Principles of Accounting Volume 2
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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Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.
Transcribed Image Text:Which of the following statements does not describe a characteristic of management accounting? A) Management accounting places a great deal of emphasis on the future. B) Management accounting must conform to GAAP. C) Management accounting is more concerned with individual segments of the organization rather than with the organization as a whole. D) Approximate amounts rather than accurate amounts are often used in management accounting. E) More than one of the above statements does not describe a characteristic of management accounting.
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