The following quotation is from an address made by an officer of the British Motor Company: We can all, I think, take pride in the way cost accounting has kept pace with business development in this country. Tremendous strides have been made during the last quarter of a century, and Im sure that much more progress will be made in the future. In fact, progress will have to be made if we are to keep the science of management accounting abreast of the times. The whole of industry is now operating on a different level than we have known before a higher plateau, on which management accounting appears in a new light and becomes more and more significant as a factor in business management. Required 1. What do you think is meant by the statement that the whole of industry is now operating on a different level than we have known before a higher plateau . . .?