Question

Flexibility of practice when applied to managerial accounting means that: Multiple Choice The information must be presented in electronic format so that it is easily changed. Managers must be willing to accept the information as the accountants present it to them, rather than in the format they ask for. Managerial accountants must be on call twenty-four hours a day. Managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations. Managers must be flexible with information provided in varying forms and using inconsistent measures

Answer 1

Answer:

Managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations.

Explanation:

Managerial accounting also known as cost accounting is an accounting technique focused on identification, measurement, analyzing, interpretation, and communication of financial information to managers for better decisions making and pursuit of the organization's goals.

Flexibility of practice when applied to managerial accounting means that managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations.

This ultimately implies that, managerial accounting is specific to a particular business organization i.e the managerial accounting model used by a company would be different from the one used by another.