Question

Which of the following is not accurate when it pertains to managerial accounting?
a.Gathers and reports information that is relevant to the decision-making needs of management
b.Provides economic data reports on the operations and condition of the business that are useful for banks and other creditors in deciding whether to lend money to the business
c.Uses both financial accounting information and estimates in helping managers make daily decisions
d.Uses past information to estimate the planning of future operations

Answer 1

Answer:

b.

Explanation:

It can be said that the one statement that is NOT accurate when it pertains to managerial accounting is that it provides economic data reports on the operations and condition of the business that are useful for banks and other creditors in deciding whether to lend money to the business. Managerial Accountants mostly gather and use both financial accounting information and estimates in order to help a business make present day decisions as well as plan for the future, but the Accountants do not send any information outside of their employer and do not make the decisions.

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