Indicate which of the following statements are more descriptive of managerial accounting than of financial accounting.

Question

Quizplus · Accepted Answer

Managerial accounting provides information that is tailored to the needs of internal decision makers, such as managers, whereas financial accounting is more concerned with providing standardized financial information for external stakeholders. Option A is more descriptive of financial accounting, as it refers to recognized standards for financial statement presentation. Option C may apply to both managerial and financial accounting, depending on the context. Option D is more descriptive of financial accounting, as it often involves reporting on past financial performance.

Indicate Which of the Following Statements Are More Descriptive of Managerial