Which of the following statements is false?
A) There is no overlap between financial and managerial accounting.
B) Managerial accounting sometimes relies on past information.
C) Managerial accounting does not need to conform to GAAP.
D) Financial accounting must conform to GAAP.

Question

Quizplus · Accepted Answer

There is overlap between financial and managerial accounting, as both types of accounting may involve analyzing financial data and making decisions based on that analysis.

Which of the Following Statements Is False