Which of the following does NOT explain the distinction between financial statements and management accounts? A Financial statements are primarily for external users and management accounts are primarily for internal users B Financial statements are normally produced annually and management accounts are normally produced monthly C Financial statements are more detailed than management accounts D Financial statements are audited by an external auditor and management accounts do not normally have an external audit
Which of the following does NOT explain the distinction between financial statements and management accounts? A Financial statements are primarily for external users and management accounts are primarily for internal users B Financial statements are normally produced annually and management accounts are normally produced monthly C Financial statements are more detailed than management accounts D Financial statements are audited by an external auditor and management accounts do not normally have an external audit
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following does NOT explain the distinction between financial statements and
A Financial statements are primarily for external users and management accounts are
primarily for internal users
B Financial statements are normally produced annually and management accounts are
normally produced monthly
C Financial statements are more detailed than management accounts
D Financial statements are audited by an external auditor and management accounts do not
normally have an external audit
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