1. Management accounting: A) is both retrospective, providing feedback about past operations, and also prospective, incorporating forecasts and estimates about future events. B) is primarily oriented to external stakeholders. C) must be consistent with rules formulated by the Financial Accounting Standards Board (FASB). D) provides information that is generally available only on a quarterly or annual basis. 2. Management accounting information is BEST described as: A) providing a signal that something is wrong. B) identifying and helping to explain what is wrong. C) simply summarizing information, but giving no indication that anything is wrong. D) measuring overall organizational performance