Which of the following are true?

1. Management accounting is concerned with financial reporting for internal users.

2. Verifiability is one of the qualitative characteristics of accounting information. It means that there is agreement between a measurement and the economic activity or item that is being measured.

3. Common stock has a higher priority than debt in case of a company's bankruptcy liquidation.

4. A company should capitalize the cost of additions and betterments.

5. If a company incurs legal fees when purchasing a building, then those fees should be included in the cost of the building on the company's books.