Accounting -101
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Generally accepted accounting principles requires that the companies use which of the following accounting:
Accrual Accounting
Cash Basis of Accounting
None of the above
Managerial accounting is different from financial accounting in that:
a. Managerial accounting is used extensively by investors, whereas financial accounting is used only by creditors.
b. Managerial accounting is mainly used to set stock prices.
c. Managerial accounting never includes nonmonetary information.
d. Managerial accounting includes many projections and estimates whereas financial accounting has a minimum of predictions.
e. Managerial accounting is more focused on the organization as a whole and financial accounting is more focused on the subdivisions of the organization.