The reports and financial statements prepared by accountants:
A)Are more useful for profit-seeking businesses than they are for not-for-profit organizations.
B)Are mainly used to help the firm complete its tax forms.
C)Provide information that can be used by decision-makers both inside and outside the organization.
D)Are not as useful now that firms have moved into a more global environment.

Question

Quizplus · Accepted Answer

The reports and financial statements prepared by accountants provide information that can be used by decision-makers both inside and outside the organization. They are not solely used for completing tax forms and are useful for both profit-seeking businesses and not-for-profit organizations. While the global business environment may present some unique challenges, financial statements remain a critical tool for decision-making.

The Reports and Financial Statements Prepared by Accountants