Which of the Following Statements Is False

question 30

Multiple Choice

Which of the following statements is false?

• A) There is no overlap between financial and managerial accounting.
• B) Managerial accounting sometimes relies on past information.
• C) Managerial accounting does not need to conform to GAAP.
• D) Financial accounting must conform to GAAP.

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Definitions:

Ought Self

A component of self-concept representing the attributes an individual or others believe they should possess.

Ideal Self

The version of oneself that a person aspires to be, encompassing their goals, values, and desires for personal improvement.

Anxiety

An emotion characterized by feelings of tension, worried thoughts, and physical changes like increased blood pressure, stemming from anticipation of future danger or misfortune.

Abstract Level

The degree to which concepts, ideas, or representations lack specific, concrete details, allowing for more generalized or theoretical thinking.