q19

Which one of the following statements is not correct regarding financial accounting and management accounting? O a Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting O b. Only financial accounting involves the use of accounting information Oc Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization Od None of the given answers e Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited