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Indicate whether each phrase is more descriptive of financial accounting or managerial accounting.

(a) May be subjective

Financial accounting

Managerial accounting

(b) Often used to obtain financing

Financial accounting

Managerial accounting

(c) Typically prepared quarterly or annually

Financial accounting

Managerial accounting

(d) May measure time or customer satisfaction

Financial accounting

Managerial accounting

(e) Future oriented

Financial accounting

Managerial accounting

(f) Has a greater emphasis on cost-benefit analysis

Financial accounting

Managerial accounting

(g) Keeps records of assets and liabilities

Financial accounting

Managerial accounting

(h) Highly aggregated statements

Financial accounting

Managerial accounting

(i) Must conform to external standards

Financial accounting

Managerial accounting

(j) Special-purpose reports

Financial accounting

Managerial accounting

(k) Decision-making tool

Financial accounting

Managerial accounting

(l) Income statement, balance sheet, and statement of cash flows

Financial accounting

Managerial accounting

Consider the linear model Y = alX1 + a2X2 +b where the vector ( X1, X2) has a bivariate Gaussian distribution with means #1, #2, variances of, 02, and correlation coefficient p12. Consider the vector (X1, Y). One can show (via some involved calculus) that (X1, Y) has a bivariate Gaussian distribution. Determine its two means, two variances, covariance, and correlation coefficient. Remark: In lecture we considered precisely this problem but under the as- sumption that X] and X2 are independent.Question 27 1 pts Which one of the following statements is correct: Unbiased estimators are always asymptotically unbiased Asymptotically unbiased estimators are always unbiased O Asymptotically unbiased estimators are always consistent Unbiased estimators are always consistent