Which of the Following Items Does Not Represent a Difference

question 132

Multiple Choice

Which of the following items does not represent a difference between financial and managerial accounting?

• A) Users of the information.
• B) Managerial accounting does not use the financial information from the financial accounting system.
• C) Focus of the information.
• D) Timeliness of information.
• E) Flexibility of reporting.

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Definitions:

Mutually Exclusive

Refers to a situation where the occurrence of one event means the other cannot occur.

Independent

A term in statistics that describes two or more events that do not affect each other's outcomes.

Multiplicative Rule

In probability, a rule that calculates the probability of two independent events occurring together by multiplying the probability of each event.

Probability

A gauge of an event's occurrence likelihood, numerically between 0 and 1.