Management accounting focuses on:
A) compliance with the accounting standards.
B) meeting the needs of external users.
C) effective and efficient management of resources.
D) financial data only.

Question

Quizplus · Accepted Answer

Management accounting focuses on providing information to management for effective and efficient management of resources, such as budgeting, cost accounting, and performance evaluation. It is different from financial accounting, which focuses on providing information to external users and compliance with accounting standards. Therefore, option C is the correct answer.

Management Accounting Focuses On