Flexibility of practice when applied to managerial accounting means that:
A) Managerial accounting system differ across companies depending on the nature of the business and the arrangement of its internal operations.
B) Managers must be flexible with information provided in varying forms and using inconsistent measures.
C) The information must be presented in electronic format so that it is easily changed.
D) Managers must be willing to accept the information as the accountants present it to them, rather than in the format they ask for.
E) The managerial accountants need to be on call twenty-four hours a day.

Question

Quizplus · Accepted Answer

Flexibility of practice in managerial accounting refers to the fact that the accounting systems may differ across companies based on their nature of business and internal operations. This means that managers need to adapt to the accounting systems used in their company and not expect a one-size-fits-all approach.

Flexibility of Practice When Applied to Managerial Accounting Means That