Questions: Which statement is true of managerial accounting? It facilitates important information about decisions that are critical for success. It provides information for external use. It compares past performances with the actual performance.

The answer is: It facilitates important information about decisions that are critical for success.

This statement is not true of managerial accounting. Managerial accounting is primarily focused on providing information for internal use by management to aid in decision-making, planning, and control. Information for investors and creditors is typically provided by financial accounting.

This statement is true of managerial accounting. Managerial accounting provides detailed and relevant information that helps managers make informed decisions that are crucial for the success of the organization. This includes budgeting, forecasting, and various forms of financial analysis.

This statement is not true of managerial accounting. Managerial accounting is intended for internal use by the organization's management. Financial accounting, on the other hand, is designed to provide information to external parties such as investors, creditors, and regulatory agencies.

While this statement is partially true, as managerial accounting does involve comparing past performances with actual performance to some extent, it is not the most comprehensive description of managerial accounting. The primary focus of managerial accounting is to provide information that aids in decision-making and planning for future success.