Which of the following statements is true about managerial accounting? O It must be prepared using generally accepting accounting principles. O It is primarily for internal users such as stockholders and managers. O It provides more detailed information than financial accounting does. It pertains to a business as a whole.

Which of the following statements is true about managerial accounting? O It must be prepared using generally accepting accounting principles. O It is primarily for internal users such as stockholders and managers. O It provides more detailed information than financial accounting does. It pertains to a business as a whole.

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 1EA: Indicate whether each statement describes financial accounting or managerial accounting. The...

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Similar questions

Should a managerial accounting system provide both financial and nonfinancial information? Explain.
What are the key differences between financial accounting and managerial accounting?
Managerial accounting produces information: to meet the needs of external users that is often focused on the future to meet the needs of investors that follows the rules of GAAP
How do the subject matter of reports and the verification of reports differ between financial accounting and managerial accounting?
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Management accounting: emphasizes special-purpose information relates to the company as a whole is limited to strictly cost figures is controlled by GAAP
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An effective managerial accounting system should track information about an organizations activities in which of the following areas? a. Development b. Marketing c. Production d. Design e. All of these.
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