QUESTION 1 [18 MARKS]

For each report listed in the following, indicate whether it relates to financial or managerial accounting. Explain the reasoning behind your answer for each item

a. Projected net income for next quarter by division

b. Defective goods produced as a percentage of all goods produced

c. Income statement for the most current year, prepared in accordance with GAAP

d. Monthly sales broken down by geographic region e. Production department budget for the next quarter

f. Balance sheet at the end of the current year, prepared in accordance with GAAP