الوقت المتبقی 1:26:18Which one of the following statements is not correct regarding financial?accounting and management accountingBoth financial accounting and management accounting involve the.use of accounting informationFinancial accounting needs to follow specific set of rules called baccounting standards unlike management accounting.asiManagement accounting reports need to be audited to verify theiraccuracy unlike financial accounting reports which do not need tobe audited.CManagement accounting information emphasize supporting .ddecisions that affect the future unlike financial accountinginformation, which focus on the consequences of past activities ofthe organizationNone of the given answers.e

Financial accounting is a branch of accounting in which all accounting and financial information is…

Which one of the following statements is not correct regarding financial ?accounting and management accounting Both financial accounting and management accounting involve the .use of accounting information Financial accounting needs to follow specific set of rules calledb accounting standards unlike management accounting .a Management accounting reports need to be audited to verify their .c accuracy unlike financial accounting reports which do not need to .be audited Management accounting information emphasize supporting .d decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of .the organization None of the given answers .e

Which one of the following statements is not correct regarding financial ?accounting and management accounting Both financial accounting and management accounting involve the .use of accounting information Financial accounting needs to follow specific set of rules calledb accounting standards unlike management accounting .a Management accounting reports need to be audited to verify their .c accuracy unlike financial accounting reports which do not need to .be audited Management accounting information emphasize supporting .d decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of .the organization None of the given answers .e

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 are True? a) The financial statements are management's responsibility. b) Management is responsible for adopting sound accounting policies and establishing and maintaining internal control c) The fair presentation of financial statements in conformity with applicable financial reporting framework is an explicit and integral part of management's responsibility. Only b) and c) Only a) Only a) and b) All a) , b) and c)