Financial and Managerial Accounting (LO1)

Indicate whether each phrase is more descriptive of financial accounting or managerial accounting.

a. May be subjective

b. Often used to state corporate goals

c. Typically prepared quarterly or annually

d. May measure time or customer satisfaction

e. Future oriented f | Has a greater emphasis on cost-benefit analysis g. Keeps records of assets and liabilities h. Highly aggregated statements i. Must conform to external standards J. Special-purpose reports k. Decision-making tool !. Income statement, balance sheet, and statement of cash flows  (p. 22)