This Question: 2 pts | 1 of 55 (0 complete) ? This Test: 150 pts possi Which of

Question

This Question: 2 pts | 1 of 55 (0 complete) ? This Test: 150 pts possi Which of the following statements is true of managerial accounting? O A. Managerial accounting information must comply with Generally Accepted Accounting Principles 0 B. Managerial accounting information is used to help managers plan, direct and control their operations. ° C. The external stakeholders of a company are the primary users of managerial accounting. O D. An external audit by an independent CPA is required for managerial accounting information

Explanation / Answer

Correct Answer (B) Managerial Accounting information id used to help Managers plan, Direct and Control their operations

Explanation

No Audit is required for Managerial accounts by a CPA and accounts prepared are based on Variable costing approach .Managerial accounting are used only by managers and are not available for External users. Managerial Accounts are not in conformity with GAAP Principles.

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