Financial accounting reports concentrate on:
A)current events.
B)current and future events.
C)past events.
D)future events.

Question

Quizplus · Accepted Answer

Financial accounting reports, as the name suggests, focus on the financial transactions and events that have already occurred in the past. These reports provide an accurate picture of a company's financial health and performance over a designated period. They are primarily used by stakeholders, including investors, creditors, and management, to make informed decisions and evaluate the company's performance. Financial accounting reports do not typically provide information about current or future events unless they are directly related to past events.

Financial Accounting Reports Concentrate On