The two types of accounting are:
A)profit and nonprofit.
B)financial and managerial.
C)internal and external.
D)bookkeeping and decision-oriented.

Question

Quizplus · Accepted Answer

Financial accounting is concerned with the preparation of financial statements for external stakeholders such as investors and creditors. Managerial accounting, on the other hand, provides financial information to internal stakeholders such as managers and decision-makers to aid in planning and controlling the operations of a company.

The Two Types of Accounting Are