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Determine If the Following Is an Emphasis O Accounting

Question 58

Short Answer

Determine if the following is an emphasis o accounting:
1. Estimating the amount of materials needed for next month's production
2. Information in reports focuses on objectivity and verifiability
3. Reports follow GAAP or IFRS
4. Precise information that is more readily available is included in reports.
5. The focus and reporting emphasizes segments of an organization
6. Organizations may follow their own guidelines for reports generated.

Correct Answer:

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1. M
2. F
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