Which of the following statements is false?
A) There are no formal requirements for producing and presenting management accounting information
B) Financial accounting information is intended mainly for users outside the organization (such as shareholders and creditors)
C) Companies are not legally required to produce financial accounting information
D) Management accounting information is often private, whereas financial accounting information is public

Question

Quizplus · Accepted Answer

Companies are legally required to produce financial accounting information, as it is necessary for tax and regulatory purposes.

Which of the Following Statements Is False