Which of the following are characteristics of management accounting information?(1) Non-financial as well as financial(2) Used by all stakeholders(3) Concerned with cost control only(4) Not legally required
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A 1 and 2 only B 1 and 4 only C 2 and 4 only D 1, 2 and 3 only
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7 .Which of the following statements about cost and management accounting are true?(1) Cost accounting cannot be used to provide inventory valuations for externalfinancial reporting(2) There is a legal requirement to prepare management accounts(3) The format of management accounts may vary from one business to another(4) Management accounting provides information to help management make businessdecisions
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