Reference no: EM132726372

Problem 1: Which of the following is considered to be an "internal" user of accounting information?

Select one:

a. Shareholders
b. Employees
c. Managers
d. All of the above

Problem 2: Which of the following statements about the differences between financial and management accounting is true?

Select one:

a. Management accounting is constrained by accounting standards.
b. Management accounting can only include financial information.
c. Financial accounting can be based on past, current and future events.
d. Financial accounting needs to be objective and auditable.