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n 14: End-of-Chapter Practice Synced to Gradebook Tue, Feb 11, 2020, 4:03:33 PM (America/New York- Question 3 View Policies C
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1. Managerial accounting reports focus on manufacturing and nonmanufacturing costs, but are also used in the budget process : False

2. Financial accounting reports pertain to subunits of the business and are very detailed. : False

3. Managerial accounting reports must follow GAAP and are audited by CPAs. : False

4. Managers' activities and responsibilities can be classified into three broad functions: planning, directing, and controlling. : True

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