Which of the following sentences does NOT explain the distinction between financial accounts and management accounts?
A. Financial accounts are primarily for external users and management accounts are primarily for internal users
B. Financial accounts are normally prepared annually while management accounts are prepared monthly
C. Financial accounts are more accurate than management accounts
D. Financial accounts are audited by external auditors whereas management accounts are audited by internal auditors
E. Unlike financial accounts, management accounts are used for rendering returns to tax authorities

E. Unlike financial accounts, management accounts are used for rendering returns to tax authorities

Explanation:
Management accounts are not used for rendering returns to tax authorities; this is the role of financial accounts, which are externally audited and submitted to regulatory authorities. Management accounts are for internal use to assist in decision-making.