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Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Financial accounting reports need to be audited to
Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Financial accounting reports need to be audited to verify their accuracy unlike management accounting reports which do not need to be audited. O b. None of the given answers O c. Management accounting information emphasize supporting decisions that affect the future unlike financial accounting information, which focus on the consequences of past activities of the organization. O d. Financial accounting needs to follow specific set of rules called accounting standards unlike management accounting O e. Only financial accounting involves the use of accounting information. All the following companies is most likely to use a process accounting system, EXCEPT: O a. Al-Ain water bottling factory O b. Legal services company OC. Tide soap factory O d. Medical masks factory e. none of the given answers is correct
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