Question

Which one of the following branches of accounting primarily deals with processing and presenting of accounting data for internal use?

• A. Financial accounting
• B. Tax accounting
• C. Management accounting
• D. Inflation accounting

Answer 1

Answer: (C)

Management accounting

Management Accounting is an another branch of accounting which deals with the gathering of information from financial accounting to present in a systematic manner in a report format so that this can be presented to the management to analyse and interpret the data for taking any business decision.

All such management reports are meant for internal use only.