Which of the following is not a characteristic of financial accounting?
A)Information is reported at the decision making level.
B)Information is used by external parties.
C)Information is objective,reliable and historical.
D)Reports are prepared periodically.

Question

Quizplus · Accepted Answer

Financial accounting is primarily concerned with providing information to external parties such as investors, creditors and regulatory bodies, as well as the general public. The information reported is objective, reliable, and historical, and is prepared periodically in the form of financial statements. However, financial accounting is not directly involved in decision-making but provides information that can aid in decision-making.

Which of the Following Is Not a Characteristic of Financial