I very much prefer
for c in internalProductCategories
p = fetchProductsInCategory(c.id)
m = getAccountManagerName(c.id)
results.append({categoryName: c.name, products: p, manager: m.name})
to for internalProductCategory in internalProductCategories
products = fetchProductsInCategory(internalProductCategory.id)
manager = getAccountManagerName(internalProductCategory.id)
results.append({categoryName: internalProductCategory.name, products: products, manager: manager.name})
They're both clear, neither needs comments, but one is unnecessarily verbose.