Which of the following is not a characteristic of useful managerial accounting reports?
A) accurate
B) adhere to GAAP
C) historical and estimated data
D) prepared as needed

Question

Quizplus · Accepted Answer

While it is important for financial accounting reports to adhere to GAAP (Generally Accepted Accounting Principles), managerial accounting reports do not have to follow this standard. Managerial accounting reports are used internally within an organization and can be prepared to fit the specific needs of management, rather than conforming to a set of external accounting standards. Therefore, Option B is not a characteristic of useful managerial accounting reports.

Which of the Following Is Not a Characteristic of Useful