The primary objective of financial accounting is to:
A)Serve the decision-making needs of internal users.
B)Provide accounting information that serves external users.
C)Monitor and control company activities.
D)Provide information on both the costs and benefits of looking after products and services.
E)Know what,when,and how much product to produce.

Question

Quizplus · Accepted Answer

The primary objective of financial accounting is to provide accounting information that serves external users such as investors, creditors, and government agencies. This information includes financial statements such as the income statement, balance sheet, and statement of cash flows. The purpose of providing this information is to assist external users in making informed decisions about the company.

The Primary Objective of Financial Accounting Is To