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)The managerial accountants need to be on call twenty-four hours a day.
D)Managerial accounting system 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.

Question

Quizplus · Accepted Answer

Flexibility of practice in managerial accounting means that the system can be adapted to fit the specific needs of the company. This can differ across companies depending on their nature and internal structure, and managers must be adaptable to these differences. It does not necessarily mean that the information is presented in electronic format, that managers must accept the information without question, that accountants need to be on call 24 hours a day, or that managers must be flexible with inconsistent measures.

Flexibility of Practice When Applied to Managerial Accounting Means That