statement is true or false, and correct the false statement(s): 3 The tinal output of managerial accounting is the tinancial statements (balance sheet, income statement, cash flow statement and changes in equity statements). 4 Managerial accounting uses past data while Financial accounting uses past and tuture data
statement is true or false, and correct the false statement(s): 3 The tinal output of managerial accounting is the tinancial statements (balance sheet, income statement, cash flow statement and changes in equity statements). 4 Managerial accounting uses past data while Financial accounting uses past and tuture data
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Transcribed Image Text:Question 1: Determine whether each of the following
statement is true or false, and correct the false
statement(s):
3 The tinal output of managerial accounting is the financial statements
(balance sheet, income statement, cash flow statement and changes
in equity statements).
4 Managerial accounting uses past data while Financial accounting
uses past and tuture data
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