Which of the following statements about the use of managerial accounting information in nonprofit organizations is true?

Multiple Choice

Universities do not exist strictly to earn$\_$profit for shareholders, so managerial accounting information is not vital to their operations.

Unlike other nonprofits, hospitals $($which exist with a focus on financial results in addition to health metrics$)$ make use of managerial accounting.

Because managers of nonprofit organizations need timely and relevant information to make decisions, managerial accounting is vital to these organizations.

Because nonprofit organizations$-$hospitals, educational institutions, charities$-$do not exist with a profit motive, they do not use managerial accounting principles.