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Question 5 (a) Both financial accounting and management accounting play an important part in ensuring that a business performs smoothly and efficiently. Explain how financial

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Question 5 (a) Both financial accounting and management accounting play an important part in ensuring that a business performs smoothly and efficiently. Explain how financial accounting differs from management accounting. [2 marks] (b) Discuss TWO (2) Generally Accepted Accounting Principles (GAAP). [2 marks]

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