Managerial accounting is becoming less relevant as the U.S. economy shifts away from the manufacturing industry towards the service industry.

Question

Quizplus · Accepted Answer

Managerial accounting is still relevant regardless of the industry. Its purpose is to provide relevant and timely information to management to aid in decision-making and performance evaluation. The shift towards the service industry does not diminish the importance of managerial accounting, as service businesses still need to manage costs, analyze profitability, and make informed decisions.

Managerial Accounting Is Becoming Less Relevant as the U