Which of the following is not a characteristic of managerial accounting?
A)Information is used by internal parties.
B)Information is subjective,relevant,and future-oriented.
C)Reports are prepared as needed.
D)Reports are prepared according to GAAP.

Question

Quizplus · Accepted Answer

Managerial accounting reports are not required to be prepared according to GAAP (Generally Accepted Accounting Principles) since they are prepared for internal purposes only and are not intended for external users or investors.

Which of the Following Is Not a Characteristic of Managerial