True or F alse, In the space next to the sentence indicate whether the sentence is true or false. 1 point each. 1. Managerial accounting is primarily concerned with providing information to external users, while financial accounting is used for internal decision making. Tre 2. Managerial Accounting provides information relevant to making decisions about the future performance of a company 3. Management Accountants are required to report financial results in accordance with legally set guidelines. rue 4. Managerial Accounting utilizes both financial and non-financial data of a company. 5. In order to be considered a merchandising firm, a company must have a physical "brick-and- mortar store location. False 6. A service firm is one that takes materials and converts them into a sellable product. 7. Merchandising firms can be either wholesalers or retailers 8. Many firms have typically used a just-in-case Inventory system by carrying safety stock as a buffer against unforeseen delays Lean manufacturing is designed to minimize the amount of time it takes for a product to flow through the production process 9. se information is now so readily accessible to everyone, companies are starting to focus more on the profit margin of each product, and individual 10. Becau less on the purchasing behavior of customers, regardless of how much a customer might spend on other products