_____ deals with reporting to outsiders._____ accounting deals with the internal operations of the firm.
A)Bookkeeping; Financial accounting
B)Financial accounting; Auditing
C)Auditing; Managerial accounting
D)External accounting; Internal accounting
E)Financial accounting; Managerial accounting

Question

Quizplus · Accepted Answer

Financial accounting deals with the preparation of financial statements for external users such as investors, creditors, and regulatory agencies. Managerial accounting focuses on providing information to the company's internal users to assist in decision-making, planning, and controlling operations.

_____ Deals with Reporting to Outsiders