Kizspy Question: 48
(Choose 1 answer)
Which statement correctly depicts the differences between Managerial Accounting and Financial Accounting?
A. Financial accounting is focused on external reporting, while Managerial accounting deals with internal
decision-making.
B. Financial accounting provides information for planning and controlling within an organization, while
Managerial accounting focuses on reporting financial performance to external stakeholders.
C. Managerial accounting is mainly concerned with historical financial data, while Financial accounting deals
with future financial projections.
D. Managerial accounting is prepared exclusively for tax purposes, while Financial accounting is used for
budgeting and forecasting.
