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Which of the following statements is true of managerial accounting? A) An external audit by an independent CPA is required for manageria accounting information. B) The focus is on the future. C) It is required to follow GAAP. D) Summary reports are prepared primarily for the company as a whole

Which of the following statements is true of managerial accounting? A) An external audit by an independent CPA is required for manageria accounting information. B) The focus is on the future. C) It is required to follow GAAP. D) Summary reports are prepared primarily for the company as a whole

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Which of the following statements is true of managerial accounting? A) An external audit by an independent CPA is required for managerial accounting information. B) The focus is on the future. C) It is required to follow GAAP. D) Summary reports are prepared primarily for the company as a whole.
Transcribed Image Text:Which of the following statements is true of managerial accounting? A) An external audit by an independent CPA is required for managerial accounting information. B) The focus is on the future. C) It is required to follow GAAP. D) Summary reports are prepared primarily for the company as a whole.
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