Which statement is not correct?
A)Financial accounting is the process of providing information to external parties.
B)Accounting is about the communication of financial information.
C)Accounting is the production of information about an enterprise and the transmission of that information to those who need the information.
D)Financial accounting is the process of providing information to internal parties.

Question

Quizplus · Accepted Answer

Financial accounting is concerned with providing information to external parties such as investors, creditors, and regulators. It is not focused on providing information to internal parties.

Which Statement Is Not Correct