Q52 All of the following are characteristics of managerial accounting, except:

Q52 All of the following are characteristics of managerial accounting, except:
 Reports are used primarily by insiders rather than by persons outside of the business entity
 Its purpose is to assist managers in planning and controlling business operations
 Information must be developed in conformity with generally accepted accounting principles
 Information may be tailored to assist in specific managerial decisions

 

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