Ques. 5. (Multiple Choice, multiple rightanswers) (8 points) Please tick off the answers below:
a) Which of the following is correct? Financial accounting
o Helps managers plan and control businessoperations
o Undergoes an annual independent audit by certified publicaccountants (CPA)
o Is concerned about how reports will affect employeebehavior
o Creates detailed reports on parts of the company (products,customers, departments,…) often on a weekly, or monthly basis
b) Which of the following is correct? Managementaccounting
o Helps investors, creditors, and others to makeinvestment, credit, and other decisions o Has to strictly followaccounting standards (US-GAAP, IFRS, HGB)
o Also focuses on the future
o Creates summary reports
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