Final answer:
Managerial accounting is an important field in business that involves the gathering, interpretation, and analysis of financial information to support management decision-making. It applies to all types of firms.
Step-by-step explanation:
Managerial accounting is an important field in business that involves the gathering, interpretation, and analysis of financial information to support management decision-making. It focuses on providing internal stakeholders, such as managers and executives, with information needed to effectively manage the business.
Managerial accounting is applicable to all types of businesses, including service firms, merchandising firms, and manufacturing firms. It helps companies analyze costs, plan budgets, make pricing decisions, evaluate performance, and allocate resources.
Therefore, the correct answer is D) Managerial accounting applies to all types of firms.