1. Which of the following is true of BOTH financial accounting and management accounting?

A. They are regulated by accounting standards and statute

B. It generates general purpose financial statements

C. They use information provided by the cost accounting system

D. The emphasis is on timeliness and flexibility

2. Within the value chain; support functions are the:

A. coordination and assembly of resources to produce a product or deliver a service

B. support activities provided to the customer

C. support activities provided to other internal business functions

D. mechanisms by which companies deliver products or services