The Basic Difference Between Management and Financial Accounting Is That

Multiple Choice

The basic difference between management and financial accounting is that:

A) the financial accounting system relies on accounting information, whereas management accounting does not.
B) financial accounting relies on information gathered from sources outside the business, whereas management accounting relies on internally generated information.
C) financial accounting is concerned with providing information to outsiders, whereas management accounting is concerned with providing information to managers for their use in directing the activities of the organisation.
D) None of the above is correct.