The primary objective of financial accounting is to:
A)Serve the decision-making needs of internal users.
B)Provide financial statements to help external users analyze and interpret an organization's activities.
C)Monitor and control company activities.
D)Provide information on both the costs and benefits of managing products and services.
E)Know what,when and how much to produce.

Question

Quizplus · Accepted Answer

The primary objective of financial accounting is to provide financial statements (such as balance sheets, income statements, cash flow statements) to help external users analyze and interpret an organization's activities. This information can be used by investors, creditors, regulators, and others to make decisions regarding the organization.

The Primary Objective of Financial Accounting Is To