The type of accounting which measures, reports and analysis of the non-financial and financial information to help in decision making is called _____________?
Correct answer: B. management accounting
- A. financial accounting
- B. management accounting
- C. cost accounting
- D. decision accounting
Explanation
Management accounting measures and analyzes both financial and non-financial information for internal planning, control, and decision-making. Financial accounting is mainly designed for external reporting, while cost accounting focuses more narrowly on cost measurement and analysis.
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About Accounting Principles
Accounting principles explain the rules used to record, classify and report business transactions. Coverage includes the accounting equation, double-entry system, accrual and cash bases, matching and prudence concepts, consistency, going concern, business entity, and the difference between capital and revenue items.
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