Which of the following statements is TRUE about managerial accounting information?
A)It is prepared annually and quarterly.
B)It is audited by CPAs.
C)It emphasizes relevance.
D)It must be prepared in conformity with generally accepted accounting principles (GAAP).

Question

Quizplus · Accepted Answer

Managerial accounting information is focused on providing relevant information for internal decision-making, rather than being constrained by strict adherence to GAAP or external auditing requirements. It is typically prepared as needed, rather than on an annual or quarterly schedule.

Which of the Following Statements Is TRUE About Managerial Accounting