Which of the following statements is true?

Multiple choice question.

Financial accounting data is based on the business transactions of the business. Managerial accounting is based solely on estimated activity.

Managerial accounting data is provided to stockholders and lenders to support decisions about lending and investing in the business.

Managerial accounting provides financial data for internal use and financial accounting provides data to external users.

There is no significant difference between financial and managerial accounting.