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Which of the following statements is false? Financial accounting must conform to GAAP. There
is no overlap between financial and managerial accounting. Managerial accounting sometimes
relies on past information. Managerial accounting does not need to conform to GAAP
Solution
The false statement is
Managerial accounting sometimes relies on past information
(other statements are true)

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Which of the following statements is false Financial accounting mus.pdf

  • 1. Which of the following statements is false? Financial accounting must conform to GAAP. There is no overlap between financial and managerial accounting. Managerial accounting sometimes relies on past information. Managerial accounting does not need to conform to GAAP Solution The false statement is Managerial accounting sometimes relies on past information (other statements are true)