Managerial accounting differs from financial accounting in several areas. Specify whether each of the following characteristics relates to managerial or financial accounting Main characteristics of data is that it must [ Choose ] Financial Accounting Managerial Accounting Neither be reliable and objective Reports are prepared as needed Not governed by legal requirements IChoose l Primary users are external (i.e. creditors, investors) oose Focused on the future IChoose l Reporting is based mainly on thpany[Choose) as a whole Reports are usually prepared quarterly and annually IChoose ] Information is verified by external auditors[Choose] Focused on the past IChoose l Main characteristic of data is that it must be relevant [Choose] Reports tend to be prepared for the parts of the organization rather than the whole IChoose ]