For each of the characteristics below, identify whether it is a focus of financial accounting or managerial accounting. Use the letter F to identify financial accounting and M to identify managerial accounting.
1. Users are generally investors, creditors, analysts, and regulators.
________ 2. Used to assist managers in making planning and control decisions.
________ 3. Information is structured and controlled by GAAP.
________ 4. Information is available quickly without the need to wait for an audit.
________ 5. Information is mainly historical with some predictions.
________ 6. Emphasis of the information is a company's projects, processes, and divisions.
________ 7. Information is mostly monetary, but includes nonmonetary information.

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The Answer of For each of the characteristics below, identify whether it is a focus of financial accounting or managerial accounting. Use the letter F to identify financial accounting and M to identify managerial accounting.
1. Users are generally investors, creditors, analysts, and regulators.
________ 2. Used to assist managers in making planning and control decisions.
________ 3. Information is structured and controlled by GAAP.
________ 4. Information is available quickly without the need to wait for an audit.
________ 5. Information is mainly historical with some predictions.
________ 6. Emphasis of the information is a company's projects, processes, and divisions.
________ 7. Information is mostly monetary, but includes nonmonetary information.

For Each of the Characteristics Below, Identify Whether It Is