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Which one of the following statements is not correct regarding financial accounting and management accounting? Both financial accounting and management accounting involve the use of accounting information. a. b. None of the given answers C. Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the organization. O d. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. e. Financial accounting needs to follow specific set of rules called accounting standards unlike

Which one of the following statements is not correct regarding financial accounting and management accounting? Both financial accounting and management accounting involve the use of accounting information. a. b. None of the given answers C. Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the organization. O d. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. e. Financial accounting needs to follow specific set of rules called accounting standards unlike

Principles of Accounting Volume 2
Principles of Accounting Volume 2
19th Edition
ISBN:9781947172609
Author:OpenStax
Publisher:OpenStax
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 2EB: Identify the following as true or false: Financial accounting reports are not released to external...
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Which one of the following statements is not correct regarding financial accounting and management accounting? Both financial accounting and management accounting involve the use of accounting information. a. b. None of the given answers Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the С. organization. d. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. Financial accounting needs to follow specific set of rules called accounting standards unlike Management accounting e.
Transcribed Image Text:Which one of the following statements is not correct regarding financial accounting and management accounting? Both financial accounting and management accounting involve the use of accounting information. a. b. None of the given answers Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the С. organization. d. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. Financial accounting needs to follow specific set of rules called accounting standards unlike Management accounting e.
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