Financial statements differ from management account because
AThey are mainly prepared for external users of financial information
BThe are prepared on basis of actual concept
CThe are the summary of accounting data
DThey are more complex and hard to prepare
Correct answer
A. They are mainly prepared for external users of financial information
Explanation
They are mainly prepared for external users of financial information is the correct answer. Review the question and compare it with the other choices to remember this fact for future exams.