Financial accounting is primarily intended for:
A) bankers,investors,and regulators.
B) calculating and reporting taxes.
C) predicting the results of management decisions.
D) avoiding penalties for noncompliance.

Question

Quizplus · Accepted Answer

Financial accounting is primarily intended for external users, such as bankers, investors, and regulators, who rely on financial statements to make decisions about investments, loans, and regulatory compliance. Tax calculations and compliance, predicting management decisions, and avoiding penalties for noncompliance are all secondary purposes of financial accounting.

Financial Accounting Is Primarily Intended For