Indicate whether each of the following statements about accounting information is true or false. ________ a) Financial accounting is primarily intended to satisfy the information needs of internal stakeholders.________ b) Managerial accounting information includes financial and nonfinancial information.________ c) The accounting information intended to satisfy the needs of a company's employees is managerial accounting information.________ d) GAAP requires that companies adhere to financial accounting standards.________ e) Managerial accounting information is usually less detailed than financial accounting information.

Question

What will be an ideal response?

Answer 1

a) F b) T c) T d) T e) F

Financial accounting is primarily intended for external, not internal, stakeholders. Managerial accounting information is usually more detailed than financial accounting information.