accounting information and managerial eristics are more closely related to accounting information have a number of indicate which al waunting by placing the letter "F-in the distinguishing characteristics. For each of the characteristics listed below, space to the left of the item and indicate those characteristics which are more closely associated with managerial accounting by placing the letter "M" to the left of the item e reports 2 Reports are used internaly 3 Prepared in accordance with generally accepted accounting principles y Special purpose reports Limited to historical cost data Reporting standard is relevance to the decision to be made 7 Financial statements y Reports generally pertain to the business as a whole 4 Reports generally pertain to subunits u Reports issued quarterly or annually