Managerial accounting: O must always follow generally accepted accounting principles O emphasizes objectivity and verifiability O is primarily concerned with providing information to external users O provides information to help managers make decisions in the future; Question 1.2 Product costs appear on the balance sheet: O only if the goods are sold during the period O only if goods are partially completed or are unsold at the end of a period O only if goods are unsold at the end of a periocd; O only if goods are partially completed at the end of the period. Question 1.3 Underapplied manufacturing overhead is usually: O added to cost of goods sold O added to raw materials; O subtracted from work in process O subtracted from cost of goods sold