Justin Bleeber has prepared the following list of statements about managerial accounting, financial accounting, and the functions of management.

Identify each statement as true or false.

1.		Financial accounting focuses on providing information to internal users.		True False
2.		Staff positions are directly involved in the company’s primary revenue-generating activities.		True False
3.		Preparation of budgets is part of financial accounting.		True False
4.		Managerial accounting applies only to merchandising and manufacturing companies.		True False
5.		Both managerial accounting and financial accounting deal with many of the same economic events.		True False
6.		Managerial accounting reports are prepared only quarterly and annually.		True False
7.		Financial accounting reports are general-purpose reports.		True False
8.		Managerial accounting reports pertain to subunits of the business.		True False
9.		Managerial accounting reports must comply with generally accepted accounting principles.		True False
10.		The company treasurer reports directly to the vice president of operations.		True False