Which of the Following Statements About Management or Financial Accounting

question 33

Multiple Choice

Which of the following statements about management or financial accounting is false?

• A)Financial accounting must follow GAAP.
• B)Management accounting is not subject to regulatory reporting standards.
• C)Both management and financial accounting are subject to mandatory recordkeeping requirements.
• D)Management accounting should be flexible.

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Definitions:

Offensive

Anything that causes someone to feel deeply hurt, upset, or angry.

Intentional Tort

A category of torts that describes a civil wrong resulting from an intentional act on the part of the tortfeasor (the person who commits the tort).

Tort

A civil wrong that causes a claimant to suffer loss or harm, leading to legal liability for the person who commits the tortious act.

False Imprisonment

The act of restraining a person's freedom of movement without legal authority, justification, or the individual's consent.