Which of the following is TRUE?
A) Managerial accounting reports are audited by professional accountants.
B) Managerial accounting reports provide detailed internal information.
C) Managerial accounting reports aid potential investors.
D) Managerial accounting reports must follow GAAP.

Question

Quizplus · Accepted Answer

Managerial accounting reports provide detailed internal information that is used by managers within the organization to make decisions. These reports are not typically audited by professional accountants, as they are for internal use only and do not need to adhere to GAAP as strictly as external financial statements. Managerial accounting reports may be useful for potential investors in gaining an understanding of the company's operations, but they are not specifically designed for this purpose.

Which of the Following Is TRUE