All categories

2 years ago

Managerial accounting is governed by generally accepted accounting principles (gaap). a. true b. false

Business

1 answer:

diamong [38]2 years ago

3 0

This is a False Statement.

Generally Accepted Accounting Principles (GAAP) need not be followed by managerial accountants when preparing management reports.

Specifically, management accounting aims to

provide Information for internal Organisation managers

providing details to governmental regulating bodies

Information for shareholders, the accounts payable department, and other parties outside the company

information to shareholders, accounts payables, and other parties outside the company, as well as information to management inside the firm.

To Learn more about Management Accounting, Click the links.

brainly.com/question/21597572

brainly.com/question/18414655

#SPJ4

You might be interested in

A purchase of a French bottle of wine by a resident of Honduras would be considered an ____ when counting GDP in Honduras. As a

Misha Larkins [42]

Answer:

import, subtract. export, added

Explanation:

The GDP equation is given by GDP = C + I + G + (X – M) where C is consumption, I investment, G is government expenditures and M are imports.

Since the bottle of wine was produced in France it had to be imported to Honduras to be consumed, imports enters the GDP equation with a minus sign. This implies imports are subtracted from the GDP equation. For a box of Honduras cigars to be consumed in Canada they had to be exported there, so these are counted as exports with enter the GDP equation with a plus sign. So exports are added.

7 0

3 years ago

A company pays its employees $4,200 each Friday, which amounts to $840 per day for the five-day workweek that begins on Monday.

natita [175]

Answer:

e. $3,200

Explanation:

According to accrual concept the expense which is incurred but not been paid should be recorded in the same period when it is accrue.

At the end of the period only 4 days from Monday to Friday is pased for which the wages have not been paid. The expense is accrued and unpaid.

Pay per day = $800

Pay for 4 days = $800 x 4 = $3,200

6 0

3 years ago

Wilma has a $25,000 certificate of deposit (CD) at the local bank. The interest on this certificate, $1,000, was credited to her

jasenka [17]

Answer:

A. Wilma must include the $1,000 of interest in her income this year.

Explanation:

the interest is taxed when is being credited to the account and this is why Wilma must include it in her income for this year.

7 0

3 years ago

In order to achieve a high rating on the economic freedom of the world index a government should ______________.

erica [24]

Answer: In order to achieve a high rating on the economic freedom of the world index a government should allow labor, capital and goods to move freely without any restriction.

Explanation: In economic freedom, individuals have the opportunity to control their labor and property. The government is not telling them what they can and can not do, it is entirely up to them. Measuring economic freedom is based on the rule of law, government size, regulatory efficiency and open markets.

8 0

3 years ago

As a major steel manufacturer, SteelMakers Inc. focuses on having the most efficient manufacturing processes in place. The compa

salantis [7]

Answer: Production orientation

Explanation: It refers to a strategy when the company focuses only to provide the best quality product in the market without taking into consideration the preference of the customers.

In the given case, Steel makers are focusing on making their business process the best in market so that they can gain a competitive advantage.

Thus, from the above we can conclude that the correct option is C.

6 0

3 years ago