________ Is the Field of Accounting That Develops Information for External

question 20

Multiple Choice

________ is the field of accounting that develops information for external parties such as stockholders,suppliers,banks and governmental regulatory bodies.

• A) Auditing
• B) Internal auditing
• C) Management accounting
• D) Financial accounting

---

Definitions:

Controller

A senior financial officer responsible for managing the accounting operations of a business, including financial reporting and budgeting.

Tax Management

The process of analyzing financial situations or decisions from a tax perspective with the aim to minimize tax liability.

Financial Accounting

Financial accounting refers to the process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time. These transactions are summarized in the preparation of financial statements, including the balance sheet, income statement, and cash flow statement, that record the company's operating performance over a specific period.

Financial Management

The strategic planning, organizing, directing, and controlling of financial undertakings in an organization or an institute.