Which one of the following statements is not correct regarding financial accounting and management accounting? O Financial accounting needs to follow specific set of rules called accounting standards unlike Management accounting Ob Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited Oc None of the given answers Od Both financial accounting and management accounting involve the use of accounting Information O e Financial accounting information emphasize supporting decisions that affect the future unlike management accounting information, which focus on the consequences of past activities of the organization