24. Financial accounting is concerned with a. financial and nonfinancial information about a company b, the preparation of general purpose financial statements for use by external users c. planning the activities of the company d. decision making about the activities of the company e. all of the above 25. Managerial accounting is a. designed to assist the managers of a company in decision making b. concemed with both financial and nonfinancial information c. designed to prepare financial statements for external users d. both a and b e. both a and b and c 26. Financial accounting and managerial accounting share which common characteristic? a. use of accounting for decision making purposes b. use of accounting to provide information to a broad range of users c. use of information to satisfy statutory and other legal requirements d. both a and b e. both a and b andc 27. External users of financial information include a. shareholders b. investors c. financial analysts d. governmental regulators e. all of the above 28. Which activities of an organization are mangers involved in? a. planning b. operating c. controlling d. both a and b e. both a and b and c 29.The stakeholders approach involves which of the following features? a. Stakeholders are people with an interest at stake in an organization b. An organization has to serve the interest of its stakeholders c. An organization has to develop procedures to define its practices and limitations d. both and b e both and b and c 30. Which is a question in the stakeholders approach? a. Who are the organization's stakeholders b. To what extent should the organization have regard to its stakeholders c. How can stakeholders improve the operations of the organization a d. both a and b b e. both a and b and c d. KC