Question: What is a key difference between financial and managerial accounting? Managerial accounting focuses on the whole organization. Managerial accounting is mandatory, while financial accounting is

What is a key difference between financial and managerial accounting?
Managerial accounting focuses on the whole organization.
Managerial accounting is mandatory, while financial accounting is not.
Managerial accounting is future-oriented; financial accounting is historical.
Financial accounting emphasizes relevance over verifiability.

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