Question

1. Managerial accounting focuses on providing historical financial information to outside users including shareholders and creditors.

2. Managerial accounting information must follow U.S. Generally Accepted Accounting Principles (CA AP)

3. The control function is implemented to assess an organization's plan and may lead to recommendations for the future.

4. The treasurer is typically in charge of all finance and accounting functions within an organization.

5. The Institute of Management Accountants (IMA) provides formal guidance to help in choosing ethically acceptable courses of action

Answer 1

Question No. (1) -

Answer -

The given statement is False because, Financial Accounting focuses on providing historical financial information to outside users including shareholders and creditors.

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Question No. (2) -

Answer -

The given statement is False because, Financial accounting information must follow U.S. Generally Accepted Accounting Principles (GAAP).

.

Question No. (3) -

Answer -

The given statement is True.

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Question No. (4) -

Answer -

The given statement is False because, The Treasurer is typically charged with overseeing the management and reporting of an organization's finances.