Question

Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial accounting or financial accounting.

a. Reports are usually prepared quarterly and annually. Managerial accounting
b. Information is verified by external auditors. Financial accounting
c. Focus is on the past. Financial accounting
d. Main characteristic of information is that it must be relevant. Managerial accounting

Answer 1

A is not Managerial accounting the correct answer is Financial accounting