Test Bank - 1 As compared with cost accounting the...

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1. As compared with cost accounting, the emphasis of financial accounting differs in that: a. financial accounting rarely deals specifically with segments of the business. b. financial accounting rarely deals with historical information. c. financial accounting is likely to adhere to generally accepted accounting principles. d. cost accounting does not differ from financial accounting significantly. correct: c 2. Most companies use: a. different accounting systems for different needs. b. their accounting system primarily for management accounting and adapt the output to meet financial accounting requirements. c. their accounting system primarily for financial accounting and adapt the output to meet management accounting needs. d. cost accounting systems to drive financial accounting systems. correct: c 3. Management accountants help managers by providing them with: a. GAAP-based analysis. b. monetary information only. c. non-monetary information only. d. monetary and non-monetary information. correct: d
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Test Bank - 1 As compared with cost accounting the...

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