Which of the following best describes the function of managerial accounting within an organization?
A) It has its primary emphasis on the future.
B) It is required by regulatory bodies such as the Ontario Securities Commission.
C) It focuses on the organization as a whole, rather than on the organization's segments.
D) It places more emphasis on precision of data than financial accounting does.

Question

Quizplus · Accepted Answer

Managerial accounting focuses on providing information for making decisions about the future, such as budgeting and forecasting.

Answer: D 
 Managerial accounting may use estimates and assumptions to provide useful information for decision-making, rather than focusing on precise data as in financial accounting.

Which of the Following Best Describes the Function of Managerial