In general,accounting data serve both financial accounting and managerial accounting purposes.

Question

Quizplus · Accepted Answer

Accounting data can be used by financial accountants to generate financial statements and reports for external stakeholders, and by managerial accountants to make internal business decisions such as budgeting, cost analysis, and performance measurement. Therefore, accounting data can serve both financial accounting and managerial accounting purposes.

In General,accounting Data Serve Both Financial Accounting and Managerial Accounting