Complete each of the following statements by selecting the best answer. In each case, explain your selection.
1. Management accounting:
(a) Often involves predicting future outcomes
(b) Is based on objective, verifiable information
(c) Emphasises the importance of accuracy
(d) Is based on financial information only
(e) None of the above.
2. Management accounting:
(a) Has changed very little since the 1950s
(b) Is tailored to the needs of the managers
(c) Involves aggregate rather than detailed analysis of information
(d) Is another name for cost accounting
(e) None of the above.
3. Management accounting:
(a) Often causes information overload for managers
(b) Is not relevant to strategy decisions
(c) Is an exact science
(d) Can have very little influence on the behavior of employees
(e) None of the above.