Which of the following statements is true?
A) External and internal users of accounting information have exactly the same information needs.
B) Financial accounting is less flexible than managerial accounting.
C) Managerial accounting provides the best information to external users.
D) Managerial accounting emphasizes on the organization as a whole more than financial accounting.

Question

Quizplus · Accepted Answer

Financial accounting is less flexible than managerial accounting because it follows specific accounting standards and regulations that must be adhered to in order to ensure accuracy and transparency in financial reporting. Managerial accounting, on the other hand, can be customized to suit the specific needs of an organization and is not bound by the same external regulations as financial accounting. The other statements are incorrect.

Which of the Following Statements Is True