Indicate TRUE or FALSE after the statement.1. Although financial and managerial accounting differ in many ways, they are similar in that both rely on the same underlying financial data.d to the document will2. Managerial accounting is a branch of financial accounting and serves essentially the same purposes as financial accounting.3. Managerial accounting places greater emphasis on the future than financial accounting, which is primarily concerned with the past4. Managerial accounting is not needed in a non-profit or governmental organization.5. When carrying out their planning activities, managers select a course of action and specify how the action will be implemented.6. When carrying out their planning activities, managers obtain feedback to ensure that the plan is actuallv carried out and is appropriately modified as circumstances change.7. The controller occupies a line position in an organization.S. Decentralization means the delegation of decision-making authority throughout an organization by allowing managers at various operating levels to make key decisions relating to their own area of responsibility.9. A firm's organization chart will normally show both the formal and informal lines of reporting andcommunication
Indicate TRUE or FALSE after the statement.1. Although financial and
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