Final Review Answers – Flashcards
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A target market and a related marketing mix make up a:
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Marketing Strategy
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"Product" is concerned with:
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Branding, packaging and warranty, physical goods
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A "channel of distribution":
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is any series of firms (or individuals) from producer to final user or consumer
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Marketing strategy decisions for promotion include decisions about
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training for salespeople
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"Promotion" is NOT concerned with:
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designing products
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Customer service
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refers to personal communication between a seller and a customer who wants the seller to resolve a problem with a purchase
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The most important variable in a firm's marketing mix is:
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Product, price, promotion, and place all contribute as a whole
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The main difference between a "marketing strategy" and a "marketing plan" is that:
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time-related details are included in a marketing plan
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Implementation
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refers to putting marketing plans into operation
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Which of the following statements by a marketing manager refer to operational decisions, rather than strategy decisions?
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"Newspaper adds will be more cost effective than 30 second radio ads--given the price increase for radio this month"
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Which of the following is an operational decision--rather than a strategy decision?
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Selection of a specific cable TV channel on which to advertise
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Breakthrough opportunities
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help innovators
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Differentiation
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often requires that the firm fine-tune all of the elements of its marketing mix to the specific needs of a distinctive target market
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"Good" market segments are those which are:
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heterogeneous between, operational, substantial, and homogeneous within
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Gina Williams wanted to start a decorating business. She identified several possible target markets, but decided to serve a market composed of recently married couples that owned their first home. Gina appears to be following:
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A single target market approach
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A large firm with ample resources wants to minimize the risk of "inviting" competitors to "chip away" at its target market(s). It has segmented its broad product-market and identified several homogeneous submarkets--each of which is large enough to offer attractive sales and profit potential. Which of the following approaches should the firm use?
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Multiple target market approach
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Qualifying
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dimensions actually affect the customer's purchase of a specific product or brand in a product-market.
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A detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a:
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Customer relationship management system
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Positioning
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refers to how customers think about proposed or present brands in a market.
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Ranked from lowest level to highest level, the "hierarchy of needs" model includes:
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physiological, safety, social, and personal needs
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The consumer decision process begins with
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need awareness
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scientific method
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is a decision-making approach focuses on being objective and orderly in testing ideas before accepting them.
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Identify the correct sequence in the marketing research process.
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Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem
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What is the first step in the marketing research process?
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Defining the problem
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situation analysis
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is an informal study of what information is already available in the problem area.
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Which of the following would be a source of primary data?
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market tests
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Which of the following would NOT be a source of primary data?
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The Wall Street Journal
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population
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The total group a survey researcher is interested in
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The marketing management process is the process of:
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planning marketing activities, implementing marketing plans and controlling marketing plants
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strategic (management) planning
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The managerial process of developing and maintaining a match between the resources of an organization and its market opportunities is called:
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strategic (management) planning
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is the managerial process of developing and maintaining a match between an organization's resources and its market opportunities.
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A marketing strategy consists of two interrelated parts. These are:
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selection of a target market and development of a marketing mix
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The difference between target marketing and mass marketing is that target marketing
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focuses on specific customers, while mass marketing aims at an entire market
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Target marketing
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specifies some particular group of customers
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The "four Ps" of a marketing mix are:
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Product, Place, Promotion, and Price
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"Place" is NOT concerned with:
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storing
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Catalogs, point-of-purchase materials, and free samples are all examples of:
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sales promotion
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A "marketing plan" should include:
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some control procedures, what company resources will be needed-at what rate, what marketing mix is to be offered to whom-and for how long, and what sales and profit results are expected
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When fast food restaurant, Tommy's Tacos, had poor sales in Central City, marketing managers closed one outlet on the east side of town and opened two new locations on the south side of town. These moves represent
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operational decisions in the place area
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differentiation
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means that the marketing mix is distinct from and better than what is available from a competitor.
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market penetration
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means trying to increase sales of a firm's present products in its present markets
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market-segment
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is a relatively homogeneous group of customers who will respond to a marketing mix in a similar way.
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segmenters
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aim at one or more homogeneous segments and try to develop a different marketing mix for each segment.
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determining
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dimensions actually affect the customer's purchase of a specific product or brand in a product-market.
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Customer relationship management system
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detailed customer database, containing past purchases and other segmenting information, is used to focus marketing efforts on individual customers in a:
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After working for 18 hours, Katrina arrived home exhausted and wanted to go straight to sleep. Katrina's need to sleep is a ______________ need.
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physiological
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selective exposure
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The fact that our eyes and minds seek out and notice only information that interests us is called:
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selective perception
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refers to processes that screen out or modify ideas, messages, and information that conflict with previously learned attitudes and beliefs.
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In business markets, close buyer-seller relationships
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may improve the profits of both the buyer and the seller
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A marketing model is a
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statement of relationships among marketing variables
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correct sequence in the marketing research process
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Defining the problem, analyzing the situation, getting problem-specific data, interpreting the data, solving the problem
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focus group interview
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An interview with 6 to 10 people in an informal group setting is called a(an):
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Regarding international marketing research:
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Accurate data (both primary and secondary data) may be hard to find in international markets
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Which of the following is the least important resource within MIS?
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methods
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What is data?
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Raw facts that describe some phenomenon
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What is the difference between data and information?
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Data is unprocessed and will turn into information once it is processed
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What is hardware?
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The physical devices that make up a computer
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Which of the following terms is used to define the set of instructions that a computer executes to carry out a specific task for you?
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software
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Microsoft Access is an example of what type of software?
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application software
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Which of the following activities tracks inventory and information among business processes and across companies?
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supply chain management (SCM)
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What is a fundamental goal of CRM systems?
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To manage and track customer interactions
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Which type of information system manages a document through all the stages of its processing?
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document management system
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Which type of system supports the capturing, organizing, and dissemination of knowledge throughout the organization?
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knowledge management (KM) system
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What is open-source information?
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Evolving information or information that can be edited by the community that uses it
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If you were a programmer and needed to view information as it was stored by the database, what type of database view would you see?
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physical view
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If you were looking at information in a database and you are able to see only the information you needed in the format you wanted, what type of database view would you see?
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logical view
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What is SQL?
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A standardized fourth generation language found in most DBMSs
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What does it mean for a data warehouse to be multidimensional?
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The files stored in a warehouse contain multiple layers of columns and rows
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What type of information system is built to support decisions based on problems that are not structured?
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decision support systems
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If you need to measure and predict customer behavior and attitudes you would most likely use this type of decision support.
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analytics
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What scrambles the contents of a file so that you can't read it without having the right key to unscramble the file?
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encryption
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What scrambles the contents of a file so that you can't read it without having the right key to unscramble the file?
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insourcing
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Which of the following systems development techniques allows end users to develop business applications?
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selfsourcing
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Which of the following systems development techniques delegate development tasks to a third party for a specified cost, period of time, and level of service?
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outsourcing
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What document defines the what, when, and who questions of systems development including all activities to be performed, the individuals, or resources, who will perform the activities, and the time required to complete each activity?
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project plan
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What type of IT infrastructure involves little or no sharing of IT and other computing resources?
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decentralized
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What is the main disadvantage of a centralized infrastructure?
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inflexibility
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What type of IT infrastructure involves distributing the information and processing power of IT systems via a network?
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distributed
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Which type of infrastructure will store applications and information in two or more locations in order to improve network performance and traffic?
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distributed
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Which type of infrastructure has one or more computers that provide services to other computers?
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client/server
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What is the primary advantage of the client/server infrastructure?
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It off-loads the application programs and information from the server
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Which metric assesses whether or not some function or task is completed the fastest?
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efficiency
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Which metric assesses whether or not the right functions or tasks were executed?
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effectiveness
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Which of the following statements best describes an information-literate knowledge worker?
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A worker who can define needed information, obtain it, understand it, and act appropriately
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What is information technology (IT)?
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A set of tools that help you work with and process information
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Which type of device allows you to amass information in a computer?
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storage
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Which term describes a business' approach to offering multiple ways in which customers can interact with it?
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multi-channel service delivery
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What is a fundamental goal of CRM systems?
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To manage and track customer interactions
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Customer relationship management (CRM) systems include which of the following functions?
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sales force automation, customer service and support, and marketing campaign management and analysis
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What type of technology is needed to support integrated collaborative work environments, knowledge management, social networking, e-learning, and open-source collaboration?
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e-collaboration
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Which type of online environment supports virtual teams and the online activities they complete?
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integrated collaboration environments (ICEs)
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Which type of information system manages a document through all the stages of its processing?
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document management system
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What is open-source information?
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Evolving information or information that can be edited by the community that uses it
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What is an enterprise resource planning (ERP) system?
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An integrated software system for every functional area within an organization
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Which data manipulation tool allows you to graphically design the answer to your business questions?
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query-by-example tools
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What is a data warehouse?
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A logical collection of information gathered from many different operational databases to create business intelligence
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Which of the following contains a subset of a data warehouse in which only a focused portion of the data is kept?
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data mart
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Which DSS component allows you to communicate with the DSS?
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user interface management
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Which transmission method ensures that transactions traveling over the Internet are legitimate as well as secure?
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secure electronica transactions (SET)
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What is the process of continuously measuring system results and comparing those results to values a system seeks to attain?
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benchmarking
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Which metric assesses whether or not some function or task is completed the fastest?
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efficiency
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Which infrastructure-centric metric measures how well a system can adapt to increasing demand?
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scalability
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Administrative agencies make:
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agency decisions
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Which of the following defeats a federal statute in case of a clash between them?
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US Constitution
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John was angry because Harry is now dating John's former girlfriend. One day, as John was driving his car, he saw Harry walking by the side of the road. John deliberately swerved and struck Harry with the car. John may be successfully sued under:
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both criminal law and civil law
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Defending against a federal district court suit by P, D claims that P has sued him in the wrong federal district court. D has raised a question of:
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venue
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U.S. Constitution provides distinct powers to the Congress, the president and the federal courts. This is the principle of:
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separation of powers
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Article I of the Constitution gives the president the power to veto legislation passed by Congress, but allows Congress to override such a veto by a two-thirds vote of each House. This is the principle of:
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checks and balances
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Which of the following statements regarding commercial speech is true?
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Commercial speech is not protected if it misleads or seeks to promote illegal activity
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Which of the following damages can be recovered by plaintiff who usually wins a tort case?
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compensatory
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Which of the following is least likely to be patentable?
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a new type of insurance policy
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Which of the following is least likely to fall within the scope of what is protected by the copyright on the work in which it appears?
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the theme of a short story
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The Lanham Act protects:
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trademarks
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Tammy Hildiger, an American fashion design firm, authorized a French clothing manufacturer to make and sell blue jeans bearing the "Tammy Hildiger" label for sale only in France. Bigmart, Inc., an American discount retailer, imports the French-made Hildiger jeans into the United States for sale in its stores. Which of the following statements is most accurate?
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the imported jeans are "gray market" goods
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Raj went to the Napa Valley Harvest Festival, where he stopped at Tina's booth where she was selling paintings of vineyards. Raj admired a painting of vineyards, which did not appear to be for sale. Raj said to Tina, "I will give you $200 if you give me that painting right now." Tina said nothing in response, but she gave Raj the painting, and Raj gave her $200 in cash. This is an example of a contract that is now:
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unilateral and executed
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Carlos tells Sally he will sell her his car for $5,000. Sally agrees. The exchange is to take place in ten days. The contract between Carlos and Sally is now:
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bilateral, executor, and express
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Ahmed promises to sell his boat to Mendel, and Mendel promises to buy it from Ahmed. What type of contract is this?
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a bilateral contract
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An executed contract is one that:
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has been fully performed by both parties
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A contract whose formation is induced by duress (force or compulsion) is:
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voidable
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A void contract:
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creates no legal obligations
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What type of transactions are governed by The Uniform Commercial Code?
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contracts for the sale of goods
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Ashburn had a big ranch in Georgia. One day Pamela stated, "I'd like to buy your sheep for $50. They're so cute!" to which Ashburn immediately replied, "Sure. That's a deal!" This cannot be enforced as a contract because of lack of:
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definiteness
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Which of the following is not a factor that constitutes acceptance?
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Offeree made material alterations to the offer
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In which legal form of business does(do) the owner or owners have unlimited personal liability for the debts of the business?
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sole proprietor
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An S corporation:
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may have only one class of shares
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Abe and Carlos want to form a general partnership. What must they do in order to create this legal form of business?
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they can just start their business
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An agency's interpretive rules:
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are not binding on business and the courts
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Which of the following Federal Trade Commission issuances have the force of law?
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trade regulation rules
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Under the national do-not-call registry rules promulgated in 2003 by the Federal Trade Commission and the Federal Communications Commission, which kinds of calls are prohibited to consumers who have registered?
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sellers of goods and services
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Which Act did the Congress envision as a vehicle in 1914 for attacking practices that monopolists employed to acquire monopoly power?
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Clayton Act
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Under the Clean Water Act of 1972, which agency of government has the primary responsibility for preventing, reducing and eliminating water pollution?
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state government
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The 1972 amendments in the Federal Water Pollution Control Act (FWPCA) known as:
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the Clean Water Act
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The rights to notice of the charges brought against you and to some kind of fair trial or hearing to prove those charges are central requirements of:
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procedural due process
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What type of transactions are governed by The Uniform Commercial Code?
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Contracts for the sale of goods
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Which of the following acronyms describes the agency that regulates pesticides and the like?
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EPA
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Which of the following is both civil and substantive?
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a state's contract law
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Why were equitable remedies developed?
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Because the common law rules sometimes would produce unfair results
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A limited partnership:
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may be created only by complying with a state statute permitting limited partnerships
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A contract in which the parties have not yet fully performed their obligations is called:
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an executor contract
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When can the offeror effectively revoke his/her offer?
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only before an effective acceptance
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professional manager
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is a career person who does not necessarily have a controlling interest in the enterprise for which he or she works.
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Which of the following is most true of an open system?
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An organization that interacts with its external environment is known as an open system
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Communication can be used to __________ other people.
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inform and command, instruct and assess, and influence and persuade
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Good listening skills enable managers to ____________.
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absorb the information they need
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grapevine
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is an informal channel of communication in an organization.
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decision making
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process of choosing from among various alternatives is known as
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Factors in the general environment that can modify a decision include ________.
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industry norms, the labor market, and the political climate
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Which of the following managerial actions will avoid hindering creativity?
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instill trust, develop effective internal and external communication, and seek a mix of talent within the organization
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policies
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Broad, general guides to action that constrain or direct objective attainment
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organization structure
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Organizational factors that must be dealt with during strategy implementation
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entry socialization process
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Companies with strong cultures attach great importance to the process of introducing and training new employees
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organizing
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is the grouping of activities necessary to achieve common objectives and the assignment of each grouping to a manager who has the authority required to supervise the people performing the activities
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Failure to __________ is probably the single most frequently encountered reason managers fail.
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delegate
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The __________ refers to the number of subordinates a manager can effectively manage.
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span of control
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organization structure
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The framework that defines the boundaries of the formal organization and within which the organization operates
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A __________ structure has many levels and relatively small spans of management.
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tall
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Which of the following is an advantage of keeping tight controls so long as they are pushed as far down in the organization as possible?
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It keeps higher-level managers from getting too involved in details, it shows why the control is necessary, and it elicits commitment from lower-level managers
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Which of the following statements about committees is most correct?
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It is more important to select capable committee members than representative members
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linchpin concept
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holds that because managers are members of overlapping groups, they link formal work groups to the total organization
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In business, groupthink is disruptive primarily because it _________.
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affects employees' ability to make logical decisions
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Which of the following is a major component of job satisfaction?
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attitude toward work group, general working conditions, and monetary benefits
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Which of the following is a reason to practice management control?
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prevent crises, standardize outputs, and appraise employee performance
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Which of the following performance appraisal methods requires managers to keep a written record of job behaviors as they occur?
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critical-incident appraisal
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Today's quality management emphasizes:
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prevention of defects and mistakes, finding defects and mistakes, and correcting defects and mistakes
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The __________ classification system manages inventories based on the total value of their usage per unit of time.
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ABC
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A(n) __________ involves pooling multiple company resources and skills in order to achieve common goals.
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strategic alliance
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B2B stands for ____________.
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business to business
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Which of the following is a benefit of transforming to a virtual organization?
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it increases productivity
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Which of the following laws created the Environmental Protection Agency (EPA)?
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the national environmental policy act
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Which of the following statements about the Malcolm Baldrige Award is most true?
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it was named after a U.S. Secretary of Commerce, small business and education organizations are eligible to apply for it, and the organization that applies must be headquartered in the U.S. or its territories
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Which of the following is a task of management?
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planning
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Which of the following is a decisional management role?
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disturbance handler
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Conceptual skills are most important at the __________ managerial level.
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senior
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During the Industrial Revolution in the U.S., which of the following changes required new management skills?
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communication lines were extended, scheduling difficulties arose, and new markets developed
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What was the name of the first study to define the relationship between physical working conditions and worker productivity?
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Hawthorne Studies
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The __________ to management states that different situations and conditions require different management approaches.
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contingency approach
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Which of the following is a characteristic of a manager with good oral communication skills?
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he or she makes emotional contact with listeners
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When managers practice management as though it were wholly an art based only on feelings, they are practicing the __________ approach to decision making.
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intuitive
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Which of the following is an emotional attachment that can hurt decision makers?
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fastening on unsubstantiated facts and sticking with them, pressing every fact into a moral pattern, and overlooking everything except what is immediately useful
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Which of the following statements about planning is true?
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Planning enables a manager or an organization to actively affect rather than passively accept the future
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The organization's __________ defines the basic purpose or purposes of the organization.
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mission
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The ability to influence people to willingly follow one's guidance or adhere to one's decisions is called ___________.
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leadership
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The __________ culture encourages employees to take few risks and to expect rapid feedback.
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work-hard/play-hard
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Which of the following is a reason for organizing?
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to establish lines of authority, to improve the efficiency of work, and to make the best use of synergism
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When a manager successfully delegates he or she ___________.
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involves the subordinates in the delegation process
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Under the __________ structure, those working on a project are officially assigned to the project and to their original or base departments.
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matrix
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The __________ effect occurs when the interviewer allows a single prominent characteristic to dominate judgment of all other traits.
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halo
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The result of individual satisfaction is increased ____________.
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commitment to the organization
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Which of the following describe objectives that can be used in the MBO process?
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objectives should be quantifiable and measureable, objective should be challenging, yet achievable, and objectives should be written in clear, concise language
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The __________ method of quality emphasizes the reformulation of attitudes, comprehensive controls, and annual objective reviews.
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Juran
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Which of the following is an action suggested by the TQM philosophy?
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find out what customers want, make the product and services easy to use and easy to produce and keep track of results
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Which of the following is a benefit of a JIT system?
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The organization can be more flexible and responsive to changing customer demands
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The law of __________ states that producers should produce the goods they are most efficient at producing and purchase from others the goods they are less efficient at producing.
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comparative advantage
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The primary management function is __________.
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planning
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Most people claim to be modern and up to date. Their first reaction to change is to:
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resist it
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An organization in which business partners and teams work together across geographic or organizational boundaries by means of information technology is called a(n) __________.
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virtual organization
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Which of the following topics may be covered in a code of ethics?
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honesty
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The basic purpose of interpersonal communication is to ________.
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increase understanding between the sender and receiver of a message
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Under a situation of __________ the decision maker has no knowledge concerning the probabilities associated with different possible outcomes.
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uncertainty
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Another name for a business strategy is a __________ strategy.
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competitive
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What term best describes net sales minus cost of goods sold?
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gross profit
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What is the principle that prescribes independent, unbiased evidence to support financial statement information?
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objective principle
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Accounts used to record revenues, expenses, and withdrawals (dividends for a corporation) are called ____________.
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temporary accounts
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Which of the following would be payment of cash or other assets from a proprietorship or partnership to its owner or owners?
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withdrawals
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Outflows or using up of assets as part of operations of a business to generate sales is called ___________.
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expenses
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What are resources that a business owns or controls that are expected to provide current and future benefits to the business?
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assets
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Which of the following best describes cash and other assets expected to be sold, collected, or used within one year or the company's operating cycle?
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current assets
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A ____________ is a business that is a separate legal entity under state or federal laws with owners called shareholders or stockholders.
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corporation
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Which of the following is considered the process of allocating the cost of an intangible asset to expense over its estimated useful life?
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amortization
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Which of the following is the "correct" accounting equation?
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assets=liabilities + equity
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A record in which transactions are entered before they are posted to ledger accounts is called what?
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book of original entry and journal
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What is the method to assign cost to inventory that assumes costs for the most recent items purchased are sold first and charged to cost of goods sold?
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LIFO
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What is the method to assign cost to inventory that assumes items are sold in the order acquired; meaning earliest items purchased are sold first?
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FIFO
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When an owner can lose no more than the amount invested this is called _____________.
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limited liability
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Which of the following is defined as the area of accounting mainly aimed at serving external users?
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financial accounting
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What is the expense that is created by allocating the cost of plant and equipment to periods in which they are used?
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depreciation
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What is the owner's claim on the assets of a business that equals the residual interest in an entity's assets after deducting liabilities?
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equity and net assets
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Liability created by buying goods or services on credit; backed by the buyer's general credit standing is ______________.
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accounts payable
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Revenues earned in a period that are both unrecorded and not yet received in cash or other assets are _______________.
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accrued revenues
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Obligations not due to be paid within one year or the operating cycle, whichever is longer, are ________________.
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long-term liabilities
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A _______________ is a written promise to pay a specified amount either on demand or at a definite future date.
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promissory note
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This is the amount earned after subtracting all expenses necessary for and matched with sales for a period.
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net income or income, profit, and earnings
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What is described as an exchange of economic consideration affecting an entity's financial position that can be reliably measured?
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transaction
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Liability created when customers pay in advance for products or services then earned when the products or services are later delivered is considered what?
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unearned revenue
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The _____________ prescribes expenses to be reported in the same period as the revenues that were earned as a result of the expenses.
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matching principle
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What best describes additional costs of plant assets that provide material benefits extending beyond the current period?
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balance sheet expenditures and capital expenditures
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A ______________ is a financial statement arranged by operating, investing, and financing that lists cash inflows and cash outflows during a given period.
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statement of cash flows
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List of accounts and balances prepared after period-end adjustments are recorded and posted is considered what?
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adjusted trial balance
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_________________ are optional entries recorded at the beginning of a period that prepare the accounts for the usual journal entries as if adjusting entries had not occurred in the prior period.
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reversing entries
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The accounting system that recognizes revenues when earned and expenses when incurred is called what?
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accrual basis accounting
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What term best describes the charge for using money or other assets loaned from one entity to another?
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interest
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Which one of the following allowed for the creation of the Public Company Accounting Oversight Board?
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Sarbanes-Oxley Act
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A record containing all accounts, with amounts, for a business is called a ____________.
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ledger
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Which of the following is the cumulative sum of all depreciation expense recorded for an asset?
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accumulated depreciation
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Creditors' claims on an organization's assets involving a probable future payment of assets, products, or services that a company is obligated to make due to past transactions or events are called ___________.
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liabilities
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What is the gross increase in equity from a company's business activities that earn income?
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revenues
question
Which of the following best describes an account showing the owner's claim on company assets?
answer
owner, capital
question
A ____________ is an owner of a corporation and is sometimes called a stockholder.
answer
shareholder
question
Which of the following is a method that allocates an equal portion of the depreciable cost of plant asset to each accounting period in its useful life?
answer
straight-line depreciation
question
The ___________ is a temporary account used only in the closing process to which the balances of revenue and expense accounts are transferred.
answer
income summary
question
Long-term assets used to produce or sell products or services which usually lack physical form and have uncertain benefits are called what?
answer
intangible assets
question
Who is the independent group of full-time members responsible for setting accounting rules?
answer
FASB
question
What are the rules that specify acceptable accounting practices?
answer
GAAP
question
The availability of resources to meet short-term cash requirements is called _____________.
answer
liquidity
question
Which of the following is defined as the recurring steps performed each accounting period, starting with analyzing transactions and continuing through the post-closing trial balance or reversing entries.
answer
accounting cycle
question
What do you call a list of individual sub-accounts and amounts with a common characteristic that is also linked to a controlling account in the general ledger?
answer
subsidiary ledger
question
What is the account that is linked with another account and having an opposite normal balance; reported as a subtraction from the other account's balance?
answer
contra account
question
Costs incurred in a period that are both unpaid and unrecorded are ______________.
answer
accrued expenses
question
Amounts due from customers for credit sales and backed by the customer's general credit standing are _______________.
answer
accounts receivable
question
Obligations due to be paid or settled within one year or the company's operating cycle whichever longer, are ________________.
answer
current liabilities
question
A _______________ is a liability expressed by a written promise to pay a definite sum of money on demand or on a specific future date(s).
answer
note payable
question
A report of changes in equity over a period; adjusted for increases and decreases is known as what?
answer
statement of owner's equity
question
What is a list of accounts and their balances at a point in time where total debit balances equal total credit balances?
answer
trial balance
question
The financial statement that lists types and dollar amounts of assets, liabilities, and equity at a specific date is considered what?
answer
balance sheet
question
The _____________ is a method to assign inventory cost to sales; the cost of available-for-sale units is divided by the number of units available to determine per unit cost prior to each sale that is then multiplied by the units sold to yield the cost of the sale.
answer
weighted average
question
What accounting principle prescribes that the financial statement information be based on actual costs incurred in the business transactions?
answer
cost principle
question
A ______________ is a financial statement that subtracts expenses from revenues to yield a net income or loss over a specified period of time that includes gains or losses.
answer
income statement
question
The journal entry at the end of an accounting period that brings an asset or liability account to its proper amount and updates the related expense or revenue account is considered what?
answer
adjusted entry
question
_________________ are recorded at the end of each accounting period to transfer end-of-period balances in revenue, gain, expense, loss, and withdrawal accounts to the capital account.
answer
closing entries
question
An area of accounting mainly aimed at serving the decision-making needs of internal users is called what?
answer
managerial accounting
