ining Thme: Question Completion Status: QUESTION 1 Managerial accounting must co

Question

ining Thme: Question Completion Status: QUESTION 1 Managerial accounting must conform to which of the following standards? Generally Accepted Accounting Principles (GAAP) International Financial Reporting Standards (IFRS) O Internal Revenue Service tax code O None of the above QUESTION 2 The margin of safety is: O The excess of sales over variable expenses The excess of sales over fixed expenses O The excess of sales over the break-even volume of sales The excess of net operating income over actual net operating income QUESTION 3 0 ace

Explanation / Answer

question 1:

D. None of the above.

(there are no set accounting standards for manegerial accounting as yet.)

question 2:

C. Excess of sales over the break even volume of sales.

(margin of safety = total sales - break even sales).

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