Remaining Time: 1 hour, 59 minutes, 12 QUESTION 1 characteristics. To submit you
ID: 2391226 • Letter: R
Question
Remaining Time: 1 hour, 59 minutes, 12 QUESTION 1 characteristics. To submit your answer cial sccounting by placing the letter "F" in the space to the left of the item and indicate those managerial aounting accounting by placing the letter "M to the left of the item. reports with generally accepted accounting principles 3. 4. 5. 6. Prepared in Special purpose reports Limited to historical cost data Reporting standard is relevance to the decision to be made 9. Reports generally pertain to subunits 10. Reports issued quarterly or annually useing ALL ofthe 10 terms above, write a Your paragraph should not be a mere repeat of the items above, but also include a DISCUSSION in between financial and managerial accountg Hint TTT ? ParagraphExplanation / Answer
F====Financial Accounting
M====Managerial Accounting
1. General purpose reports - F
2. Reports are used internally - M
3. Prepared in accordance with GAAP - F
4.Special purpose reports - M
5. Limited to historical cost data - F
6. Reporting standard is relevance to the decision to be made - M
7. Financial statements - F
8. Reports generally pertain to the business as a whole - F
9. Reports generally pertain to subunits - M
10. Reports issued quarterly or annually - F