Managerial accounting reports areA) prepared according to GAAPB) prepared according to management needsC) prepared periodically onlyD) related to the entire business entity only

Question

Sebastian De Angelis · Accepted Answer

Final Answer : B, Explanation :  Managerial accounting reports are prepared to meet the information needs of internal users such as management, and are not necessarily prepared according to GAAP. These reports can be prepared at any time and can focus on specific departments or products rather than the entire entity.

Managerial accounting reports are

A) prepared according to GAAP
B) prepared according to management needs
C) prepared periodically only
D) related to the entire business entity only

Definitions

Learning Objectives

Learning Objectives

Related questions