Accrual accounting relates the financial effects of a company's transactions: a) so that the costs of nonoperating events are matched to the balance sheet in the period impacted b) to the period in which they occur rather than to when the cash receipts or payment occurs c) so that the revenue impact of every transaction in a period is properly reflected in the income statement d) so that the impact of every transaction is reflected in the statement of cash flows Question 26 (2 points) The primary reason that financial accounting and managerial accounting have somewhat different objectives is because they: a) need information in different formats b) provide information for different decisions c) need information in different geographic locations d) need information at different times Question 27 ( 2 points) Which of the following types of information was specifically identified by the FASB as being useful in assessing the amounts, timing, and uncertainty of a company's future cash flows? a) liquidity b) return of investment c) financial capability d) credit standing