$6.$ Which of the following is NOT a characteristic of managerial accounting?

A$)$ Focus on future projections

B$)$ Use of historical data

C$)$ Internal reporting

D$)$ Compliance with GAAP

$7.$ What is depreciation?

A$)$ The process of allocating the cost of a tangible asset over its useful life

B$)$ The increase in value of an asset over time

C$)$ The amount of cash used to purchase an asset

D$)$ The total cost of an asset at the time of purchase