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.

---

Definitions:

Passive Immunity

Immunity acquired by the transfer of antibodies from another individual, such as from mother to fetus through the placenta, or through antibody-containing blood products.

Cell Mediated

Relating to the immune response that does not involve antibodies but rather the activation of white blood cells against pathogens.

Active Immunity

Immunity acquired through the immune system's response to a disease organism or vaccination, leading to the production of antibodies.

Antiseptic Hand Solution

A liquid substance used to eliminate or reduce pathogens on the skin, especially in the hands, to prevent contamination.