Management and financial accounting are used for which of the following purposes?
A) internal external
B) external internal
C) internal internal
D) external external

Question

Management and financial accounting are used for which of the following purposes? 
A) internal external 
B) external internal 
C) internal internal 
D) external external

Quizplus · Accepted Answer

Management accounting is used by internal stakeholders, such as managers or employees, to make decisions and manage operations, while financial accounting is used by external stakeholders, such as investors or regulators, to assess the financial health and performance of a company. Therefore, both types of accounting are used for both internal and external purposes, but management accounting is more focused on internal use, while financial accounting is more focused on external use.

Management and Financial Accounting Are Used for Which of the Following