١٢ O d. $30O e $6Which one of the following statements is not correct regarding financial accounting and management accounting?O a.Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports whicdo not need to be audited.O b. Only financial accounting involves the use of accounting information.None of the given answersJImO d. Financial accounting needs to follow specific set of rules called accounting standards unlike management accountrige.Management accounting information emphasize supporting decisions that affect the future unlike financial accountininformation, which focus on the consequences of past activities of the organization.GENEXT PAGE

Financial accounting is the process of recording all the financial transactions into the books in…

Which one of the following statements is not correct regarding financial accounting and management accounting? Oa Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports whi do not need to be audited. O b. Only financial accounting involves the use of accounting information. Oc. None of the given answers Jm O d. Financial accounting needs to follow specific set of rules called accounting standards unlike management accountig O e. Management accounting information emphasize supporting decisions that affect the future unlike financial accounti information, which focus on the consequences of past activities of the organization.