An accounting method that is specifically intended to be used for planning,directing,and controlling a business is called:
A) tax accounting.
B) managerial accounting.
C) benchmarking.
D) forensic accounting.

Question

Quizplus · Accepted Answer

Managerial accounting is a method of accounting that focuses on providing financial information that is useful for decision-making, planning, directing, and controlling a business. It is different from tax accounting, which is focused on ensuring compliance with tax laws, benchmarking, which is a process of comparing a business's performance to industry standards, and forensic accounting, which is used for investigating financial crimes.

An Accounting Method That Is Specifically Intended to Be Used