true of false 48-50

48. T, F. The primary purpose of financial accounting is the preparation and presentation of four financial statements to the public who need the information. 49 T, F. The primary purpose of Managerial accounting is to prepare and present to all users of accounting information that are within an organization whether for profit or not. 50. T, F. Gross Profit or Margin is the difference between Net Sales and Cost of goods sold