Identify the following characteristics as primarily related to financial accounting (FA) or managerial accounting (MA):1. Helps Creditors make lending decisions2. Helps in planning and controlling operations3. Is not required to follow GAAP4. Has a focus on the future5. Summary reports prepared quarterly or annually
1. Helps Creditors make lending decisions (FA)2. Helps in planning and controlling operations (MA)3. Is not required to follow GAAP (MA)4. Has a focus on the future (MA)5. Summary reports prepared quarterly or annually (FA)