Financial accounting is primarily concerned with:
A) reporting to external investors and creditors.
B) long term decision making.
C) feasibility analysis.
D) reporting exclusively to internal users.

Question

Quizplus · Accepted Answer

Financial accounting is primarily concerned with reporting financial information to external investors and creditors, such as financial statements. It is important for these external users to have access to accurate and reliable financial information to make investment and lending decisions. Financial accounting is not concerned with long term decision making or feasibility analysis, which are typically the focus of management accounting. Additionally, financial accounting is not exclusive to internal users, as it is primarily meant for external reporting.

Financial Accounting Is Primarily Concerned With