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Author Question: What is the major difference between the objective of financial accounting and the objective of ... (Read 148 times)

stevenposner

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on: Jul 5, 2018
What is the major difference between the objective of financial accounting and the objective of managerialaccountin g?

Question 2

All of the following transactions decrease the fund balance of a governmental fund except
 
  A. Purchase of equipment.
  B. Retirement of the principal of a short-term note.
  C. Payment of salaries and wages.
  D. Purchase and use of supplies.


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Eunice618

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Reply #1 on: Jul 5, 2018
Answer to Question 1

The objective of financial accounting is to provide information for the decision-making needs of external users. The objective of managerial accounting is toprovide information for internal users.

Answer to Question 2

B


stevenposner

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Reply #2 on: Jul 5, 2018
Thank you :)


Eunice618

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Reply #3 on: Jul 5, 2018
Happy to help you


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