Which of the following is not a characteristic of useful managerial accounting reports?
A) Accuracy
B) GAAP
C) historical and estimated data
D) reports prepared as needed

Question

Quizplus · Accepted Answer

GAAP (Generally Accepted Accounting Principles) is a characteristic of financial accounting reports, not managerial accounting reports. Managerial accounting reports do not need to follow GAAP, as they are intended for internal use by managers and not for external financial reporting. The other three characteristics listed (accuracy, historical and estimated data, reports prepared as needed) are all important characteristics of useful managerial accounting reports.

Which of the Following Is Not a Characteristic of Useful