Question 2 1 pts What is one of the main differences between financial and managerial accounting? O Financial accounting provides information to internal users while managerial accounting provides information to external users. There are no major differences. Financial accounting is not subject to GAAP while managerial accounting is subject to GAAP Financial accounting provides information to external users while managerial accounting provides information to internal users. Question 3 1 pts The following end-of-year account balance information is from the accounting records of April Company: Cost of Goods Sold 7,000 Accounts Payable 1,250 Accounts Receivable 8,000 Capital Stock 5,000 Cash 250 Sales Revenue 13,000 Dividends 500 Retained Earnings (beginning) 2,750 Inventory 3,500 Which ONE of the following would appear in the closing entries for the year