1 point Which of the following represents the characteristic of Management accounting?* Involves the preparation of financial statements used by internal and external users in making informed decisions. O Reports the financial performance of entire organisation. Helps in identifying the financial position of the business. Helps in determining the estimation cost of products or activities. 1 point In managerial accounting, the financial reports are prepared on quarterly basis. as frequently needed by the management. on monthly basis. at the end of accounting period