Financial accounting is concerned PRIMARILY with:
A)cost planning and cost controls.
B)providing information for strategic and tactical decisions.
C)external reporting to investors,creditors,and government authorities.
D)profitability analysis.

Question

Quizplus · Accepted Answer

Financial accounting is primarily concerned with external reporting to parties outside of the organization, including investors, creditors, and government authorities. It involves the preparation and communication of financial statements such as the balance sheet, income statement, and cash flow statement. While profitability analysis and cost controls may be part of financial accounting, they are not its primary focus. Providing information for strategic and tactical decisions is more aligned with managerial accounting.

Financial Accounting Is Concerned PRIMARILY With