CMA Inter Paper 12 Management Accounting Practice Questions - ICMAI CMA Intermediate Paper 12 Management Accounting Exam

Which of the following is a limitation of management accounting?

It strictly follows double-entry bookkeeping with no estimates It is mandatory for all companies under the Companies Act It is based largely on financial and cost data, so it is only as reliable as the underlying records It eliminates the need for managerial judgement

Correct Answer:

It is based largely on financial and cost data, so it is only as reliable as the underlying records

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