Which of the following is a financial accounting product?
A) breakeven analysis
B) monthly budget report
C) profitability forecast
D) report to Medicare

Question

Quizplus · Accepted Answer

Report to Medicare is a financial accounting product because it involves preparing financial information that is reported externally, such as to government agencies or other external stakeholders. Financial accounting focuses on the preparation of financial statements and reports for external users, unlike managerial accounting which focuses on internal reports such as breakeven analysis, monthly budget reports, and profitability forecasts.

Which of the Following Is a Financial Accounting Product