Financial accounting provides the primary source of information for ________.
A) decision making in the assembly and finishing department
B) improving distribution and customer service
C) preparing the income statement for shareholders and other external parties
D) planning next year's plans and specifically; the operating budget

Question

Quizplus · Accepted Answer

Financial accounting is primarily aimed at providing financial information to external parties, such as shareholders and investors, in the form of financial statements like the income statement, balance sheet, and cash flow statement. This information is used to make decisions related to investments, lending, and other financial matters. Options A, B, and D are not accurate as financial accounting does not typically provide information for decision making in specific departments, distribution, customer service, or planning the operating budget.

Financial Accounting Provides the Primary Source of Information for ________