Which of the following statement is incorrect? Select one: a. Cost accounting is not required by law b. Financial accounting focuses mainly on the external users C. Management accounting is not based on double entry system d. Management accounting is bound by accounting standards
Which of the following statement is incorrect? Select one: a. Cost accounting is not required by law b. Financial accounting focuses mainly on the external users C. Management accounting is not based on double entry system d. Management accounting is bound by accounting standards
Chapter1: Accounting As A Tool For Managers
Section: Chapter Questions
Problem 10MC: Which of the following statements is incorrect? The practice of management accounting is fairly...
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Question
Which of the following statement is incorrect? Select one:
a. Cost accounting is not required by law
b. Financial accounting focuses mainly on the external users
C. Management accounting is not based on double entry system
d. Management accounting is bound by accounting standards
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