For Each of the Characteristics Below, Identify Whether It Is

question 126

Short Answer

For each of the characteristics below, identify whether it is a focus of financial accounting or managerial accounting. Use the letter F to identify financial accounting and M to identify managerial accounting.
1. Users are generally investors, creditors, analysts, and regulators.
________ 2. Used to assist managers in making planning and control decisions.
________ 3. Information is structured and controlled by GAAP.
________ 4. Information is available quickly without the need to wait for an audit.
________ 5. Information is mainly historical with some predictions.
________ 6. Emphasis of the information is a company's projects, processes, and divisions.
________ 7. Information is mostly monetary, but includes nonmonetary information.

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Definitions:

Imperial Power

A nation or state that possesses great authority and control over other nations or territories, often through conquest or colonization.

Armed Conflict

refers to a dispute that involves the use of armed force between two or more parties, typically states or organized groups.

Autocratic Governments

Autocratic governments are characterized by a single authority or leader with absolute power, where decision-making is centralized and citizen participation is minimal or non-existent.

Democratic Governments

Democratic governments are those in which power is vested in the hands of the people, either directly or through elected representatives, and decisions are made based on majority rule.