Indicate whether the following characteristics relate to management accounting (MA) or financial accounting (FA) and briefly explain
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Question:
Indicate whether the following characteristics relate to management accounting (MA) or financial accounting (FA) and briefly explain why:
- Focuses on various segments of the business entity.
- Demands objectivity.
- Relies on the criterion of usefulness rather than formal guidelines in reporting information.
- Measures units in historical dollars.
- Reports information on a regular basis.
- Uses only monetary measures for reports.
- Adheres to generally accepted accounting principles.
- Prepares reports whenever recorded.
Related Book For
Introduction to Governmental and Not for Profit Accounting
ISBN: 978-0132776011
7th edition
Authors: Martin Ives, Terry K. Patton, Suesan R. Patton
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