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When a local grocery store implements managerial accounting into its operations, is the store required to follow GAAP rules? Question 3 options: Yes; external users
When a local grocery store implements managerial accounting into its operations, is the store required to follow GAAP rules? Question 3 options: Yes; external users need to be able to verify the information given Yes; the SEC mandates that GAAP rules need to be followed No; GAAP rules only apply when the company is a publicly traded company No; managerial accounting is internal and not used by outside parties
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