Financial accounting is:
A) The reporting of past information to users within the organisation.
B) The reporting of present and future information to users within the organisation.
C) The reporting of present and future information to users outside the organisation.
D) The reporting of past information to users outside the organisation.

Question

Quizplus · Accepted Answer

Financial accounting involves the preparation of financial statements that report past financial performance and position to external users such as investors, creditors, and regulatory agencies.

Financial Accounting Is