Which of the following statements is FALSE?
A) Management accounting provides managers with accounting information for decisions.
B) Management accounting reports follow GAAP protocols.
C) Management accounting reports are customizable by companies.
D) Management accounting includes cost accounting and balance scorecards.

Question

Quizplus · Accepted Answer

Management accounting reports do not have to follow Generally Accepted Accounting Principles (GAAP) because they are internal documents meant for management's decision-making, not for external reporting.

Which of the Following Statements Is FALSE