Which of the following phrases is most descriptive of financial accounting?
A) May measure time or customer satisfaction
B) Future oriented
C) Subject to cost-benefit analysis
D) Highly aggregated statements

Question

Quizplus · Accepted Answer

Financial accounting involves the preparation of highly aggregated financial statements, such as income statements, balance sheets, and cash flow statements, which summarize the financial activities of a business over a period.

Which of the Following Phrases Is Most Descriptive of Financial