Financial accounting focuses primarily on reporting:
A) to parties outside of an organization.
B) to parties within an organization.
C) to an organization's board of directors.
D) to financial institutions.
E) for financial institutions.

Question

Quizplus · Accepted Answer

Financial accounting is primarily concerned with providing financial information to external parties such as investors, creditors, and regulatory agencies, rather than to parties within the organization.

Financial Accounting Focuses Primarily on Reporting