Question

multiple choice question
which of the following statements is true?
managerial accounting data is provided to stockholders and lenders to support decisions about lending and investing in the business.
there is no significant difference between financial and managerial accounting.
managerial accounting provides financial data for internal use and financial accounting provides data to external users.
financial accounting data is based on the business transactions of the business. managerial accounting is based solely on estimated activity.
need help? review these concept resources.
read about the concept

Explanation:

Managerial accounting serves internal needs, financial accounting external ones.

Answer:

Managerial accounting provides financial data for internal use and financial accounting provides data to external users.