Final answer:
Managerial accounting information includes not just historical data but also projections and internal analyses, making the statement False. As companies grow, less personal knowledge of managers is required by investors due to the availability of financial information.
Step-by-step explanation:
The statement that managerial accounting information is always based on historical transactions with external parties is False. Managerial accounting not only deals with historical data but also encompasses forward-looking projections and internal performance analyses which help managers make informed decisions. It includes budgets, forecasts, and various models to assist in decision-making within the company.
As a company becomes more established, detailed knowledge about individual managers and their plans is less necessary for investors because there is more readily available information concerning the company's products, revenues, costs, and profits. Thus, outside investors, including bondholders and shareholders, are more inclined to offer financial capital even without a personal connection to the managers.