Transcribed Image Text: Which one of the following statements is not correct regarding financial accounting and management accounting? O a. Management accounting information emphasize supporting decisions that affect the future

Transcribed Image Text: Which one of the following statements is not correct regarding financial
accounting and management accounting?
O a. Management accounting information emphasize supporting
decisions that affect the future unlike financial accounting
information, which focus on the consequences of past activities of
the organization.
O b. None of the given answers
O c. Financial accounting needs to follow specific set of rules called
accounting standards unlike management accounting
O d. Management accounting reports need to be audited to verify their
accuracy unlike financial accounting reports which do not need to
be audited.
Both financial accounting and management accounting involve the
e.
use of accounting information.

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