The purpose of financial accounting is to provide information for decision making. What is the primary purpose of management accounting?
A) To enable managers to ask for higher salaries
B) To maximise a company's profits
C) To provide information for decision making
D) To create a value chain

Question

Quizplus · Accepted Answer

The primary purpose of management accounting is to provide information for decision making. This information is used by managers within a company to make important decisions that will affect the future of the business. This information includes financial data, as well as data on production, sales, and other areas of the business. The goal is to improve the efficiency and effectiveness of the company's operations, and to achieve its objectives in a more strategic manner.

The Purpose of Financial Accounting Is to Provide Information for Decision