Listed below are 12 characteristics of accounting, some of which are more closely related to financial accounting, while others are related to managerial accounting.

____	a.	Focuses on external users.
____	b.	Uses a present and future timeframe.
____	c.	Uses qualitative and quantitative data.
____	d.	Reports are concerned primarily with the total company.
____	e.	Is governed by GAAP.
____	f.	Focuses on internal users.
____	g.	Uses report formats prescribed by GAAP.
____	h.	Reports are concerned with individual departments.
____	i.	Uses quantitative data.
____	j.	Is governed by the internal needs of a company.
____	k.	Uses report formats best suited for the specific decisions being made.
____	l.	Uses an historical timeframe.

Required:

Indicate which characteristic is financial and which is managerial by placing an (F) or an (M) in the space provided.