a. Accounting provides much information to help managers make economic decisions in their various workplaces.

Required: Explain with relevant illustration on how economic decisions of a marketing manager, a production manager, the Chief Executive Officer of a company and the manager of a company would need to make with the use of accounting information. (10 marks)

b. Accounting is irrelevant in decision making because the information it provides relates only to the past. Evaluate this remark. (10 marks)