Which of the following statements about management accounting information is/are true? (i) They must be stated in purely monetary terms. (ii) Limited companies must, by law, prepare management accounts. (iii) They serve as a future planning tool and are not used as an historical record.
A、(i), (ii) and (iii)
B、(i) and (ii)
C、(ii) only
D、None of the statements is true
A、(i), (ii) and (iii)
B、(i) and (ii)
C、(ii) only
D、None of the statements is true
【参考答案及解析】
Management accounts often incorporate non-monetary measures. Therefore statement (i) is incorrect.There is no legal requirement to prepare management accounts. Therefore statement (ii) is incorrect.Management accounts do serve as a future planning tool, but they are also useful as an historical record of performance. Therefore statement (iii) is incorrect.
Management accounts often incorporate non-monetary measures. Therefore statement (i) is incorrect.There is no legal requirement to prepare management accounts. Therefore statement (ii) is incorrect.Management accounts do serve as a future planning tool, but they are also useful as an historical record of performance. Therefore statement (iii) is incorrect.