(1) Which of the following statements is not true? A. Financial accounting and managerial accounting are independent of each other. B. Financial accounting, due to the requirements of regulation, is mandatory for businesses. C. Managerial accounting has a strong orientation towards the future. D. Financial accounting presents a historical perspective of business activities. (2) Each of the following would be a period cost except: A. the salary of the company president's secretary. B. the cost of a general accounting office. C. depreciation of a machine used in manufacturing. D. sales commissions. (3) Transportation costs incurred by a manufacturing company to ship its product to its customers would be classified as which of the following? A. Product cost. B. Manufacturing overhead. C. Period cost. D. Administrative cost