Asked by raman rainkh on Jun 28, 2024
Verified
Flexibility of practice when applied to managerial accounting means that:
A) The information must be presented in electronic format so that it is easily changed.
B) Managers must be willing to accept the information as the accountants present it to them,rather than in the format they ask for.
C) Managerial accountants must be on call twenty-four hours a day.
D) Managerial accounting systems differ across companies depending on the nature of the business and the arrangement of its internal operations.
E) Managers must be flexible with information provided in varying forms and using inconsistent measures.
Flexibility of Practice
The capacity of a firm or practitioner to adjust and adapt procedures or methods in response to different situations or requirements.
Managerial Accounting
The practice of analyzing, interpreting, and communicating financial information to managers for the purpose of making informed business decisions.
Internal Operations
The activities and processes carried out within an organization to keep it running, including production, human resources, and finance.
- Understand the flexibility and adaptability required in managerial accounting practices.
Verified Answer
Learning Objectives
- Understand the flexibility and adaptability required in managerial accounting practices.
Related questions
An Accounting System Has Flexibility If It Is Able to ...
Flexibility of Practice When Applied to Managerial Accounting Means That ...
What Is Decision Making? Who Is Responsible for Decision Making ...
The Control Phase Includes Analysing Actual Results, Comparing to the ...
Activities That Do Not Add Value to a Product or ...