Which of the following statements correctly distinguishes between financial and management accounting?
A) Management accounting reports on the whole organization.
B) Financial accounting is oriented toward the future.
C) Financial accounting is primarily concerned with providing information for internal users.
D) Management accounting is oriented more toward the planning and control aspects of management.

Question

Quizplus · Accepted Answer

Management accounting focuses on planning and control, providing detailed information to help managers make decisions, while financial accounting provides historical financial information primarily for external users.

Which of the Following Statements Correctly Distinguishes Between Financial and Management