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Which statement is not true for financial accounting

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Reference no: EM132644771

Question 1: Which statement is not true for financial accounting ...

A. Reports to stakeholders outside the organisation

B. Reports to stakeholders inside the organisation

C. Emphasises summaries of financial consequence of past events

D. Data must be objective and verifiable

E. Must follow GAAP and/or IFRS and/or IAS

Question 2: In a manufacturing organisation inventory consists of three different components except....

A. Direct material

B. Work-in-process

C. Finished goods

D. All of the above

E. None of the above

Reference no: EM132644771

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