Question: Identify whether each description most likely applies to managerial or financial accounting. 1. It focuses mainly on past results Financial accounting 2. It mainly uses

Identify whether each description most likely applies to managerial or financial

accounting. 1. It focuses mainly on past results Financial accounting 2. It

Identify whether each description most likely applies to managerial or financial accounting. 1. It focuses mainly on past results Financial accounting 2. It mainly uses monetary information, and little non-monetary information. 3. Its primary users are outside of the organization. 4. It focuses mainly on the future of production activities 5. Reporting is structured and controlled by GAAP

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