The practice by accountants of focusing on a business separetely from its owners is the ""entity principle.""
A) Financial accounting is more focused on the needs of outside investors than is management accounting.
B) Management accounting is more likely to use subjective information than is financial accounting.
C) Financial accounting tends to deal with more detailed information about parts of the company, while managerial accounting is more summarized.
D) Unlike financial accounting reports, managerial accounting reports often involve reports on variances from budget.

Question

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The Answer of The practice by accountants of focusing on a business separetely from its owners is the ""entity principle.""
A) Financial accounting is more focused on the needs of outside investors than is management accounting.
B) Management accounting is more likely to use subjective information than is financial accounting.
C) Financial accounting tends to deal with more detailed information about parts of the company, while managerial accounting is more summarized.
D) Unlike financial accounting reports, managerial accounting reports often involve reports on variances from budget.

The Practice by Accountants of Focusing on a Business Separetely