Business, 01.02.2021 23:50 navyaseth620

The primary objective of financial accounting is to: Group of answer choices Serve the decision-making needs of internal users. Provide accounting information that serves external users. Monitor and control company activities. Provide information on both the costs and benefits of looking after products and services. Know what, when, and how much product to produce.

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Answer from: Bowied6025

Provide accounting information that serves external users.

Explanation:

Financial accounting is an accounting technique used for analyzing, summarizing and reporting of financial transactions like sales costs, purchase costs, payables and receivables of an organization using standard financial guidelines such as Generally Accepted Accounting Principles (GAAP) and financial accounting standards board (FASB). The financial accounting standards board (FASB) is a private, non-profit organization saddled with the responsibility of establishing and maintaining standard financial accounting and reporting for general guidance of individuals such as investors, issuers and auditors.

Financial reporting can be defined as the formal communication or disclosure of financial information and statements to present and potential users such as investors and creditors. Examples of financial statements includes Balance sheet, cash-flow and income statement.

Hence, the primary objective of financial accounting is to provide accounting information that serves external users so as to enable them have a good understanding of the financial inclination of a business firm and thus, make an informed decision whether or not to invest in the business firm.

Answer from: Quest

hi,

henry is an economist and wants to understand the relationship between inflation and consumer spending habits. for his research, he needs the consumer price index for 2014 and the inflation rate. based on the prices of goods given, what will he find to be the cpi and inflation rate for 2014? assume that a consumer’s basket for three consecutive years consists of the following:

you dont privide answer choices.

answer - 15% of a inflatation rate is 15% less in cpi

Answer from: Quest

Asituation in which consumers want more of a good or service than producers are willing to make available at a particular price is a shortage

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The primary objective of financial accounting is to: Group of answer choices Serve the decision-maki...