Financial accounting information is:
A)Designed to assist investors and creditors.
B)Submitted to the IRS in lieu of a tax form.
C)Called "special-purpose" accounting information.
D)Not applicable to individuals.

Question

Quizplus · Accepted Answer

Financial accounting information is primarily designed to assist investors and creditors in making informed decisions about investing or lending money to a company. It includes financial statements such as the balance sheet, income statement, and cash flow statement, which provide information about a company's financial performance and position.

Financial Accounting Information Is