Which type of accounting information is intended to satisfy the needs of external users of accounting information?
A)Cost accounting
B)Financial accounting
C)Tax accounting
D)Managerial accounting

Question

Quizplus · Accepted Answer

Financial accounting is intended to satisfy the needs of external users of accounting information. Managerial accounting, including cost accounting, is intended for the needs of internal users, or managers, of a business. Tax accounting is specifically intended for tax regulatory agencies.

Which Type of Accounting Information Is Intended to Satisfy the Needs