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Identify whether each description most likely applies to managerial or financial accounting. 1. It focuses mainly on past results Financial accounting 2. It mainly uses

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Identify whether each description most likely applies to managerial or financial accounting. 1. It focuses mainly on past results Financial accounting 2. It mainly uses monetary information, and little non-monetary information. 3. Its primary users are outside of the organization. 4. It focuses mainly on the future of production activities 5. Reporting is structured and controlled by GAAP

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