Management accounting and financial accounting differ in that management [1 accounting information is prepared: a) Following prescribed rules b) Using whatever methods the company finds beneficial c) For shareholders d) To summarise the whole company with little detail [2] Management accounting: a) Always has an external orientation b) Always has an internal orientation c) Information assists in planning and controlling of the

Management accounting and financial accounting differ in that management [1 accounting information is prepared: a) Following prescribed rules b) Using whatever methods the company finds beneficial c) For shareholders d) To summarise the whole company with little detail [2] Management accounting: a) Always has an external orientation b) Always has an internal orientation c) Information assists in planning and controlling of the

Principles of Accounting Volume 2

19th Edition

ISBN:9781947172609

Author:OpenStax

Publisher:OpenStax

Chapter1: Accounting As A Tool For Managers

Section: Chapter Questions

Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...

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Management accounting and financial accounting differ in that management accounting information is prepared a.following prescribed rules b.using whatever methods the company finds beneficial c.for shareholders and investors d.for the Inland Revenue Department e.none of these