True (T) or False (F): T F 1. Management accounting provides economic and financial information for external users such as shareholders, creditors and banks. 2. Financial accounting provides information for managers and other internal users. 3. Financial accounting reports past results. 4. Management accounting is future oriented. 5. Management accounting is required to follow generally accepted accounting principles. 6. Financial accounting examines monetary and non-monetary events. 7. Cost accounting is used as a means of fixing a selling price. 8. Cost accounting looks at the company as a whole and not at the various units, jobs or processes. 9. Financial accounting is concerned with how and why profits arise. 10. Cost accounting depends entirely on historical
True (T) or False (F): T F
1.
and financial information for external users
such as shareholders, creditors and banks.
2. Financial accounting provides information for
managers and other internal users.
3.
4. Management accounting is future oriented.
5. Management accounting is required to follow
generally accepted accounting principles.
6. Financial accounting examines monetary and
non-monetary events.
7. Cost accounting is used as a means of fixing
a selling price.
8. Cost accounting looks at the company as a
whole and not at the various units, jobs or
processes.
9. Financial accounting is concerned with how
and why profits arise.
10. Cost accounting depends entirely on historical
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