QUESTION 2 The emphasis of financial accounting is on: O timeliness, relevance, and segment reports O obje?tivity, precision, and companywide reports. O planning, controlling, and decision making. O financial consequences of past activities, decisions affecting the future, and segment reports QUESTION 3 The emphasis of managerial accounting is on: O decisions affecting the past, precision, relevance. organizing, summarizing, and precision. O segment reports, relevance, decisions affecting the future. O mandatory reporting, following GAAP/IFRS, and decision making