Which of the Following Statements About Financial Accounting Is Correct

question 96

Multiple Choice

Which of the following statements about financial accounting is correct?

• A)Financial accounting reports are used primarily by employees to make business decisions related to production.
• B)Financial accounting reports are used primarily by management to understand whether a product line should be discontinued.
• C)Financial accounting reports are primarily prepared to provide information for external decision makers.
• D)Financial accounting reports primarily contain detailed internal records of the company.

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Definitions:

Henry Shue

An American philosopher and professor known for his work in the field of international ethics, human rights, and climate justice.

Recognized Hazards

Refers to dangerous conditions or substances that are known, or should have been known, to cause harm to employees in the workplace.

General Duty Clause

A provision in the Occupational Safety and Health Act requiring employers to provide a work environment free from recognized hazards that can cause death or serious physical harm.

Hazardous Fumes

Dangerous gases or vapors produced during various processes, which can pose health risks or environmental hazards if inhaled or released.