Which of the following statements is not true?
A) Financial accounting and managerial accounting are independent of each other.
B) Financial accounting,due to the requirements of regulation,is mandatory for businesses.
C) Managerial accounting has a strong orientation towards the future.
D) Financial accounting presents a historical perspective of business activities.

Question

Quizplus · Accepted Answer

This statement is false because financial accounting and managerial accounting are closely related and interdependent. Financial accounting provides important data for managerial accounting to use in decision making.

Which of the Following Statements Is Not True