Which of these is not a characteristic of financial accounting?

Question

Quizplus · Accepted Answer

The format of financial accounting is determined by accounting standards and not by the user. The purpose of financial accounting is to provide accurate and reliable financial information to external stakeholders, such as investors, creditors, and regulators. Therefore, compliance with accounting standards, annual reporting, and verification by audit are all important characteristics of financial accounting.

Which of These Is Not a Characteristic of Financial Accounting