The financial accounting system is the primary source of information for:
A) decision making on the factory floor.
B) improving the performance level of customer service.
C) planning the budget for next year.
D) preparing the income statement for shareholders.

Question

Quizplus · Accepted Answer

The financial accounting system is primarily used for preparing financial statements, such as the income statement, which are shared with external stakeholders like shareholders.

The Financial Accounting System Is the Primary Source of Information