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Financial statements are prepared: 2 The basic purpose of an accounting system is to: 3 Information is cost effective when: 4 Although accounting information is used by a wide variety of external parties, financial reporting is primarily directed toward the information needs of: 5 A complete set of financial statements for Hartman Company, at December 31, 1999, would include each of the following, except: 6 All of the following are characteristics of managerial accounting, except: 7 In comparison with a financial statement prepared in conformity with generally accepted accounting principles, a managerial accounting report is more likely to: Which of the following declaration about difference between financial and management accounting is incorrect?Financial accounting is based on generally accepted accounting practices; management accounting faces no similar constraining factors. Answer» b.
Which of the following declaration about differences between financial and managerial accounting is correct?d) Financial accounting is based on generally accepted accounting practices; managerial accounting faces no similar constraining factors.
Which of the following is a difference between financial accounting and managerial accounting?Managerial accounting focuses on an organization's internal financial processes, while financial accounting focuses on an organization's external financial processes. Managerial accountants focus on short-term growth strategies relating to economic maintenance.
Which of the following statements indicate distinctive features of management accounting as compared to financial accounting?The first difference is that management accounting is presented to a company's internal community, while financial accounting is prepared for an external audience.
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Which of the following declaration about difference between financial and management accounting is incorrect Mcq?
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