The major reporting standard for presenting managerial accounting information is
A) relevance.
B) generally accepted accounting principles.
C) the cost principle.
D) the current tax law.

Question

Quizplus · Accepted Answer

The major reporting standard for presenting managerial accounting information is relevance. This means that information should be presented in a format that is useful and relevant to managers for decision-making purposes. While generally accepted accounting principles and the cost principle are important for financial accounting, they are not the primary standard for managerial accounting information. Current tax law may be relevant in certain cases, but it is not the primary reporting standard for managerial accounting information.

The Major Reporting Standard for Presenting Managerial Accounting Information Is