Statement 1: In recent times, most organizations are adopting a structure where managerial accountants are grouped away in segregated management accounting department to establish independence from their business counterparts. Statement 2: When compared to financial accountants, managerial accountants often prepare reports that are concerned about different segments of the organization rather than the organization as a whole. a. Both statements are true. b. Only Statement 1 is true. c. Only Statement 2 is true. d. Both statements are false.
Statement 1: In recent times, most organizations are adopting a structure where managerial accountants are grouped away in segregated management accounting department to establish independence from their business counterparts. Statement 2: When compared to financial accountants, managerial accountants often prepare reports that are concerned about different segments of the organization rather than the organization as a whole. a. Both statements are true. b. Only Statement 1 is true. c. Only Statement 2 is true. d. Both statements are false.
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Statement 1: In recent times, most organizations are adopting a structure where managerial accountants are grouped away in segregated
Statement 2: When compared to financial accountants, managerial accountants often prepare reports that are concerned about different segments of the organization rather than the organization as a whole.
a. Both statements are true.
b. Only Statement 1 is true.
c. Only Statement 2 is true.
d. Both statements are false.
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