Q333
Which of the following statements about differences between financial and managerial accounting is incorrect?
A.
Managerial accounting information is prepared primarily for external parties such as stockholders and creditors; financial accounting is directed at internal users
AnswerB.
Financial accounting is aggregated; managerial accounting is focused on products and departments
C.
Managerial accounting pertains to both past and future items; financial accounting focuses primarily on past transactions and events
D.
Financial accounting is based on generally accepted accounting practices; managerial accounting faces no similar constraining factors
Answer: Option A
Solution
Answer: Option A
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