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Questions and Answers
What is the primary focus of management accounting?
What is the primary focus of management accounting?
- Preparing financial statements for external stakeholders
- Auditing financial records for compliance purposes
- Providing internal stakeholders with financial information for decision-making (correct)
- Forecasting market trends for investment purposes
Which of the following is a characteristic of management accounting?
Which of the following is a characteristic of management accounting?
- Emphasis on future-oriented reports (correct)
- Focus on historical financial performance
- Solely for tax compliance purposes
- Strict adherence to external reporting standards
What is the role of management accountants in an organization?
What is the role of management accountants in an organization?
- Assisting in budgeting and performance evaluation (correct)
- Preparing financial reports for tax authorities
- Conducting external audits for shareholders
- Managing day-to-day operational tasks
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