The Basic Difference Between Management and Financial Accounting Is That

question 36

Multiple Choice

The basic difference between management and financial accounting is that:

• A) the financial accounting system relies on accounting information, whereas management accounting does not.
• B) financial accounting relies on information gathered from sources outside the business, whereas management accounting relies on internally generated information.
• C) financial accounting is concerned with providing information to outsiders, whereas management accounting is concerned with providing information to managers for their use in directing the activities of the organisation.
• D) None of the above is correct.

---

Definitions:

Prosocial Behavior

Actions intended to benefit others, including helping, sharing, and comforting.

Affect Regulation

The process by which individuals influence their own emotional experiences, managing the type, intensity, and duration of emotions.

Cooperative Play

A stage in child development where children engage in play activities together, working towards a common goal or enjoying activities in a shared space.

Parallel Play

A stage of early childhood development where children play adjacent to each other but do not interact or share toys, indicating emerging social skills.