Which statement regarding management accounts is true?
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Which statement regarding management
accounts is true?
1. Management accounts are
used by managers within the
organization.
2.
3.
4.
Management accounts are
governed by standards and
conventions.
Management accounts will be
used by shareholders to
compare one company against
another.
Management accounts are
prepared for parties external to
the organization.
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