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Which of the following statements regarding financial and managerial accounting is false? Multiple Choice In...

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Accounting

Which of the following statements regarding financial and managerial accounting is false?
Multiple Choice
In financial accounting the focus is on precise and verifiable information, whereas, the priority for managerial accounting is to provide relevant information in a timely fashion.
Financial accounting reports on past transactions, whereas, managerial accounting looks to the future.
Financial accounting is optional, whereas, managerial accounting is mandatory.
In financial accounting the target audience is external, whereas, managerial accounting provides information to internal users.

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