Which of the Following Is a Difference Between Managerial and Financial

question 186

Multiple Choice

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

• A)Managerial accounting reports non-monetary information whereas financial accounting reports both monetary and non-monetary information.
• B)Managerial accounting is used by government authorities whereas financial accounting is used by stockholders.
• C)Managerial accounting prepares reports monthly whereas financial accounting prepares reports annually.
• D)Managerial information is confidential whereas financial accounting information is publicly available.

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Definitions:

Manufacturing Business

A company that produces goods using labor, equipment, and materials, often on a large scale.

Dressmaking Company

A business specializing in creating custom clothing and alterations.

Service Business

A business that provides intangible products or services to customers, rather than physical goods.

Law Firm

A business entity formed by one or more lawyers to engage in the practice of law.