In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is more likely to:

Question

Business

Shania Short

27 November, 06:59

In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is more likely to:

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Answers (1)

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Nehemiah Campos · Answer 1

The correct answer is letter "B": Be tailored to the specific needs of an individual decision maker.

Explanation:

Managerial accounting mainly focuses on collecting information from the operations of the firm given a specific period so decisions can be taken according to the situation of the company. If it is not meeting expectations, managers could shape the current strategy to fulfill the specific manager and overall company's objectives.