Q/5

Which of the following concerning financial and managerial accounting is true?

a. Both financial and managerial accounting are required to follow GAAP rules

b. Managerial accounting is required for publicly traded companies, financial accounting is not

c. Managerial accounting reports must follow the same format and standards as financial accounting reports

d. Managerial accounting is primarily for internal managers, financial accounting is primarily for external stakeholders

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