"Generally accepted accounting principles $($GAAP$)$ assist the development of management accounting systems." Do you agree? Explain.

A$.$ No$.$ GAAP applies to financial reporting for external users. Internal accounting reports are not restricted by GAAP.

B$.$ Yes. GAAP applies to internal accounting reports as well as financial reporting for external users. Managers must use GAAP in the

development of all accounting systems.

C$.$ No$.$ Although GAAP applies to internal accounting reports, managers rarely use it to develop management accounting systems.

D$.$ Yes. GAAP applies only to internal accounting reports. Therefore, managers must develop management accounting systems to comply with

GAAP.