What type of accounting system is part of an organisation's management information system for internal use only?
A) Financial accounting
B) Management accounting
C) Governmental accounting
D) All of the given answers

Question

Quizplus · Accepted Answer

Management accounting is used for internal purposes and is part of an organization's management information system. Financial accounting, on the other hand, is used for external reporting and involves the preparation of financial statements for investors, government agencies, and other external parties. Governmental accounting is a specialized form of accounting used by government entities.

What Type of Accounting System Is Part of an Organisation's