Financial Accounting Is Focused on Which of the Following Objectives

question 53

Multiple Choice

Financial accounting is focused on which of the following objectives?

• A)Providing summarised information on operational results to investors and creditors
• B)Providing information that managers need to make operational decisions
• C)Providing highly detailed information on product lines, regions, divisions, etc.
• D)Providing budgets for future periods

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Definitions:

Adam Smith

A Scottish economist and philosopher, known as the "father of modern economics" for his influential works on the nature and causes of the wealth of nations, promoting the idea of free market economies.