Question

Which of the following statements correctly describes how accounting helps managers? Select one: a. Accounting provides better ways to document meeting minutes. b. Accounting centralizes and organizes processes. c. Accounting provides better ways to conduct customer surveys.

Answer 1

Answer:

The correct answer is letter "B": Accounting centralizes and organizes processes.

Explanation:

Managerial Accounting is internally-based accounting that helps managers measure the results of their decisions. This is in contrast to financial accounting which emphasizes in more general, higher-level financial results of the company.  

One common managerial accounting tool in determining the profit margin in each of the company's products. This information helps managers set product prices and ensure they are making appropriate profit margins.