Which of the following statements is FALSE?
A) Financial accounting provides sufficient information for managers to effectively plan and control operations.
B) Financial accounting reports help creditors make decisions.
C) Financial accounting helps investors make decisions.
D) Financial accounting provides external reports.

Question

Quizplus · Accepted Answer

Financial accounting provides information for external users such as investors, creditors, and other stakeholders, but it may not provide all the information needed for managers to plan and control operations effectively. Managerial accounting is the area of accounting that focuses on providing information to internal users such as managers.

Which of the Following Statements Is FALSE