All of the following are characteristics of management accounting,except:
A)Reports are used primarily by insiders rather than by persons outside of the business entity.
B)Its purpose is to assist managers in planning and controlling business operations.
C)Information must be developed in conformity with generally accepted accounting principles or with income tax regulations.
D)Information may be tailored to assist in specific managerial decisions.

Question

Quizplus · Accepted Answer

Management accounting is not required to be developed in conformity with generally accepted accounting principles or income tax regulations. Instead, it is tailored to meet the specific needs and decisions of managers within a business. The other characteristics mentioned (reports for insiders, aiding in planning and controlling operations, and tailoring information) are all accurate descriptions of management accounting.

All of the Following Are Characteristics of Management Accounting,except