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:

Portuguese

Related to Portugal, its people, culture, or language, which is spoken primarily in Portugal and Brazil among other countries.

Catholic Church

A Christian religious institution led by the Pope, based in Vatican City, encompassing various traditions and practices worldwide.

Cod

A fish found in cold ocean waters that has been an important food source for centuries, especially in the Atlantic region.

Protein Sources

Foods or dietary supplements providing essential amino acids for human health, including animal products like meat and dairy, and plant-based options like beans, nuts, and seeds.