Which one of the following statements does not describe cost and management accounting?
A) Cost and management accounting information is concerned with reporting outcomes of past events to users external to the organisation.
B) Cost and management accounting is concerned with reporting accounting and cost information to users within an organisation.
C) Cost and management accounting information is used to plan levels of production and activity in the future.
D) Cost and management accounting information is mostly concerned with the present and the future.

Question

Quizplus · Accepted Answer

Cost and management accounting is primarily focused on providing information for internal users to aid in decision-making, planning, and control, rather than reporting past events to external users.

Which One of the Following Statements Does Not Describe Cost