One Major Difference Between Financial Accounting and Managerial Accounting Is

question 79

True/False

One major difference between financial accounting and managerial accounting is that financial accountants prepare financial statements for external investors while managerial accountants prepare financial statements for internal managers.

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Definitions:

Sales

The action or business of selling products or services to customers.

Experience

The knowledge or mastery of an event or subject gained through involvement in or exposure to it.

Coefficient of Determination

The coefficient of determination, often denoted as R^2, measures the proportion of the variance in the dependent variable that is predictable from the independent variable(s).

Gas Mileage

A measure of how far a vehicle can travel on a given amount of fuel, typically expressed in miles per gallon (mpg) or kilometers per liter (km/l).