Of the following,the most important objective for financial accounting is to provide information useful for:
A)Predicting cash flows.
B)Determining taxable income.
C)Providing accountability.

Question

Quizplus · Accepted Answer

Financial accounting primarily aims to provide information that is useful for making economic decisions, including predicting cash flows. This information helps investors, creditors, and other users assess the amounts, timing, and uncertainty of prospective cash receipts from dividends or interest and the proceeds from the sale, redemption, or maturity of securities or loans.

Of the Following,the Most Important Objective for Financial Accounting Is