The field of accounting that is concerned with external users of a company's financial information is called
A) managerial accounting.
B) bookkeeping.
C) public accounting.
D) financial accounting.
E) auditing.

Question

Quizplus · Accepted Answer

Financial accounting is concerned with providing financial information to external users such as investors, creditors, and regulatory agencies. Managerial accounting provides financial information to internal users such as managers and employees, while bookkeeping refers to the process of recording financial transactions. Public accounting refers to providing accounting and auditing services to clients outside of an organization, while auditing is a subset of public accounting that involves examining financial records for accuracy and compliance.

The Field of Accounting That Is Concerned with External Users