Which of the Following Statements About Differences Between Financial and Management

Multiple Choice

Which of the following statements about differences between financial and management accounting is incorrect?

A) Management accounting information is prepared primarily for external parties such as stockholders and creditors. financial accounting is directed at internal users.
B) Financial accounting is aggregated. management accounting is focused on products and departments.
C) Management accounting pertains to both past and future items. financial accounting focuses primarily on past transactions and events.
D) Financial accounting is based on generally accepted accounting practices. management accounting faces no similar constraining factors.