For how many of the following five statements, does the statement relate to financial accounting and not managerial accounting?: (1)Helps investors make investment decisions (2)Provides detailed reports on parts of the company(3)Helps in planning and controlling operations(4)Reports must follow generally accepted accounting principles(5)Reports audited annually by independent CPA

A. 5

B. 4

C.

3 D. 2

E. 1