Which of the Following Is the Primary Focus of Financial

question 179

Multiple Choice

Which of the following is the primary focus of financial accounting?

• A) providing information that managers need to make operational decisions
• B) providing summarized information on operational results to investors and creditors
• C) providing information to managers to assist in planning, directing and controlling operations
• D) providing highly detailed information on product lines, regions, and divisions

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Definitions:

Negotiability

The characteristic of a document (such as a check or note) signifying that it can be transferred from one person to another in a manner that the recipient takes it free of most defenses that could be raised by the original maker or drawer.

Agent's Signature

The signature of a person who is authorized to act on behalf of another, indicating consent or agreement in a contractual context.

Maker

In the context of contracts, the party who creates or signs a promissory note to pay a certain amount of money to another party.

Drawer

In banking and finance, a drawer refers to the party that writes and signs a check or draft, directing a bank or other financial institution to pay a specified amount to a named payee.