Financial accounting is primarily concerned with:
A)Recording of financial information relating to activities of the owners of the business enterprise
B)Providing financial information to assist the management in decision making.
C)Reporting financial information for external users of accounting reports
D)Interpretation of financial statements

Question

Quizplus · Accepted Answer

Financial accounting focuses on the preparation and reporting of financial statements for external users such as investors, creditors, and regulatory agencies, rather than internal management decision-making or interpretation of those statements.

Financial Accounting Is Primarily Concerned With