Which of the following is true about the differences between financial and manag

Question

Which of the following is true about the differences between financial and managerial accounting?

A. Managerial accounting presents less non-monetary information than financial accounting

B. Managerial accounting cannot deviate from generally accepted accounting principles

C. Managerial accounting places more emphasis on the future

D. Managerial accounting presents information in a highly summarized form

A. Managerial accounting presents less non-monetary information than financial accounting

B. Managerial accounting cannot deviate from generally accepted accounting principles

C. Managerial accounting places more emphasis on the future

D. Managerial accounting presents information in a highly summarized form

Explanation / Answer

Hi,

Option C (Managerial accounting places more emphasis on the future) is the correct answer.

Explanation:

One of the primary aspects of managerial accounting is planning. Therefore, managerial accounting involves estimation of costs and benefits in relation to future transactions.

Thanks.

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