Time left 1:11=Which one of the following statements is not correct regarding financial accounting and management accounting?O a. Financial accounting needs to follow specific set of rules called accounting standards unlike management accountingOb. Management accounting reports need to be audited to verify their accuracy unlike financial accounting reports which do not need to be audited.O c. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on theconsequences of past activities of the organization.O d. Both financial accounting and management accounting involve the use of accounting information.O e.None of the given answersWhich one of the following is not an example of a committed fixed cost?O a. The depreciation cost of the Headquarters offices.Ob.The property taxes of the factory plant.ofOc.None of the given answers.O d. The salary of the deputy manager of customer call center.Oe.The cost of the accounting system of the company.NEXT PAGEVIOUS PAGEACCT2121O Origin#general-chatSpotify Free

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Which one of the following statements is not correct regarding financial accounting and management 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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Time left 1:11=
Which one of the following statements is not correct regarding financial accounting and management accounting?
O a. Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting
Ob. Management accounting reports need to be audited to verify their accuracy unlike financial accounting reports which do not need to be audited.
O c. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the
consequences of past activities of the organization.
O d. Both financial accounting and management accounting involve the use of accounting information.
O e.
None of the given answers
Which one of the following is not an example of a committed fixed cost?
O a. The depreciation cost of the Headquarters offices.
Ob.
The property taxes of the factory plant.
of
Oc.
None of the given answers.
O d. The salary of the deputy manager of customer call center.
Oe.
The cost of the accounting system of the company.
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VIOUS PAGE
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O Origin
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