The purposes of financial accounting include
A) Both providing information for economic decisions AND tracking how much income shareholders earned
B) Providing information for economic decisions but not tracking how much income shareholders earned
C) Tracking how much income shareholders earned but not providing information for economic decisions
D) Giving information regarding stewardship, but neither providing information for economic decisions nor tracking how much income shareholders earned

Question

Quizplus · Accepted Answer

The purposes of financial accounting include providing information that is useful for making economic decisions and tracking the income earned by shareholders. This encompasses both the decision-making aspect for various stakeholders and the specific interest of shareholders in the profitability of the company.

The Purposes of Financial Accounting Include