Which of the following statements is false about financial accounting?
A)Financial accounting helps investors make decisions.
B)Financial accounting provides sufficient information for managers to effectively plan and control operations.
C)Financial accounting reports help creditors make decisions.
D)Financial accounting provides external reports.

Question

Quizplus · Accepted Answer

Financial accounting provides information for external parties such as investors, creditors, and regulators rather than for managers to plan and control operations. Managerial accounting is responsible for providing managers with useful information for making decisions within the organization.

Which of the Following Statements Is False About Financial Accounting