CMA Inter Paper 12 Management Accounting Practice Questions - ICMAI CMA Intermediate Paper 12 Management Accounting Exam

Which statement best distinguishes management accounting from financial accounting?

Management accounting is forward-looking and primarily serves internal decision making Management accounting is governed by statute and audited externally Management accounting always follows a fixed reporting format prescribed by the Companies Act Management accounting reports only historical transactions for shareholders

Correct Answer:

Management accounting is forward-looking and primarily serves internal decision making

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