which of the following best describes the differ¬ ence between financial and managerial accounting?

A. Managerial accounting provides information to support decisions, while financial accounting does not.

B. Managerial accounting is not restricted to gen¬ erally accepted accounting principles (GAAP), while financial accounting is restricted to GAAP.

C. Managerial accounting does not result in finan¬ cial reports, while financial accounting does re¬ sult in financial reports.

D. Managerial accounting is concerned solely with the future and does not record events from the past, while financial accounting records only events from past transactions.

AppendixLO1