Choice "C" is correct. Managerial accounting focuses on the needs of internal users (managers) and on data relevant for decision making.
Choice "d" is incorrect. Financial accounting focuses on financial statements and other reporting in conformity with GAAP.
Choice "b" is incorrect. Managerial accounting focuses on future costs and the impact of decisions on future profitability, not historical costs. Financial accounting focuses on historical costs.
Choice "a" is incorrect. Financial, not managerial, accounting focuses on the needs of external users such as creditors and investors.
