[Solved] Management accounting and financial accounting differ in that management accounting information is prepared

Q.	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.
D.	to summarize the whole company with little detail.
Answer» B. using whatever methods, the company finds beneficial.

Do you find this helpful?

View all MCQs in

Management Accounting

Discussion

No comments yet

Related MCQs

Which of the following statements are false about management accounting? (i) Management accounting is concerned with historical events. (ii) Management accounting is related only with such instances which can be expressed in monetary terms. (iii) Management accounting is a part of Financial Management (iv) Management accounting information can be disclosed to outsiders.
Management Accounting is and financial accounting differ in that management accounting information is prepared –
Management accounting and financial accounting differ in that management accounting information is prepared
Which statement is true.I)Financial accounts are prepared according to Accounting Standards. II)Management Accounting reports are also prepared according to accounting standard.
Which of the following is true about management accounting? A) Management accounting is associated with presentation of accounting data. B) Management accounting is extremely sensitive to investors needs.
Which of the following is true about management accounting? (i) Management accounting is associated with presentation of accounting data. (ii) Management accounting is extremely sensitive to investors needs.
The management accounting can be stated an extension of A) Cost Accounting B) Financial Accounting C) Responsibility Accounting
The management accounting can be stated an extension of (i) Cost Accounting (ii) Financial Accounting (iii) Responsibility Accounting
The management accounting can be stated an extension of I)Cost Accounting II)Financial Accounting
The definition ‘Management Accounting is the presentation of accounting information in such a way as to assist management in the creation of policy and the day-to-day operation of an undertaking.’