Management accounting provides economic and financial information for external users such as shareholders, creditors and banks. Select one: True False Question 2 Not yet answered Question text Financial accounting provides information for managers and other internal users. Select one: True False

Management accounting provides economic and financial information for external users such as shareholders, creditors and banks. Select one: True False Question 2 Not yet answered Question text Financial accounting provides information for managers and other internal users. Select one: True False

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 6MC: Managerial accounting produces information: to meet the needs of external users that is often...

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Question

Management accounting provides economic and financial information for external users such as shareholders, creditors and banks.

Select one:

True

False

Question 2

Not yet answered

Question text

Financial accounting provides information for managers and other internal users.

Select one:

True

False

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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