Which of the Following Statements Is True of Financial Accounting

question 35

Multiple Choice

Which of the following statements is true of financial accounting?

• A) It provides information to investors needed for their investment decisions.
• B) It provides forward-looking information needed for managing and delegating operations.
• C) It focuses on detailed reports for parts of the company rather than the whole company.
• D) It focuses on planning and controlling day-to-day operations.

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Definitions:

mRNA Strand

A single-stranded molecule in cells that carries codes from the DNA in the nucleus to sites of protein synthesis in the cytoplasm.

Ribosome

Site of protein synthesis in a cell; composed of proteins and ribosomal RNA (rRNA).

Translation

During gene expression, the process whereby ribosomes use the sequence of codons in mRNA to produce a polypeptide with a particular sequence of amino acids.

Transcription

First stage of gene expression; process whereby a DNA strand serves as a template for the formation of mRNA.