Which of the Following Is a Difference Between Managerial Accounting

question 119

Multiple Choice

Which of the following is a difference between managerial accounting and financial accounting?

• A) Financial accounting is governed by a set of generally accepted accounting principles, whereas managerial accounting uses procedures developed internally that are not required to follow generally accepted accounting principles.
• B) Financial accounting is primarily intended to provide information to internal stakeholders, whereas managerial accounting is primarily intended to provide information to external stakeholders.
• C) Managerial accounting summarizes the past performance of a company, whereas financial accounting provides reports on the past performance of a company and also makes projections about the future.
• D) Managerial accounting presents financial statements on a predetermined schedule, whereas financial accounting creates reports upon request by management rather than according to a predetermined schedule.

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Definitions:

Higher-order Conditioning

A process in classical conditioning by which a stimulus that's associated with a primary conditioned stimulus also becomes a conditioned stimulus.

Stimulus Discrimination

The ability to differentiate between one stimulus and similar stimuli, ensuring that only the original stimulus triggers the conditioned response in classical conditioning.

Stimulus Discrimination

The ability to differentiate between similar stimuli and respond appropriately to each one.

Conditioned Stimulus

A conditioned stimulus is a previously neutral stimulus that, after being repeatedly paired with an unconditioned stimulus, begins to evoke a conditioned response.