Question: Which of the following statements is true? Statement A: Financial accounting represents historical data. Statement B: Financial accounting is optional. Statement C: Financial accounting is

Which of the following statements is true? 

Statement A: Financial accounting represents historical data. 

Statement B: Financial accounting is optional. 

Statement C: Financial accounting is not based on the double-entry system.

a. All three statements

b. Only Statement A and Statement B

c. Only Statement A

d. Only Statement B and Statement C

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