1) Choose the BEST answer to distinguish between financial and managerial accounting, 1 Point The only difference between financial and managerial accounting reports is the end users. O Financial accounting reports provide end users with standardized, verified, reliable financial data whereas managerial accounting reports are based on the end user's request and can be created in any format. There is no difference between the two. 2) Which statement is TRUE regarding GAAP? 1 Point GAAP is required for all international companies that do business in the United States. GAAP is required for all publicly traded companies. W GAAP is required for all U.S. companies 3) This non-profit organization establishes financial reporting standards. 1 Point BSAF FASB SBA 4) Financial accounting statements include 1 Point Cash flow statements Income statements Balance sheets All answers are correct