What Is the Primary Purpose of Financial Accounting

question 85

Multiple Choice

What is the primary purpose of financial accounting?

• A)Determine the amount of tax liability owed to the government.
• B)Communicate business transactions to internal management.
• C)Measure business transactions and communicate those measures to external users to make decisions.
• D)Measure the profitability of the company in order to assist employees with making decisions.

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Definitions:

Reward

Benefits, compensation, or recognition given as a form of encouragement or acknowledgment for achieving a certain action, behavior, or goal.

Performance

The execution of tasks or duties and the effectiveness with which these activities are carried out by an individual or group.

Job Characteristics Model

A framework that proposes five core job dimensions, leading to high levels of job satisfaction, motivation, and performance.

Core Job Characteristics

Refers to fundamental attributes that affect job satisfaction and performance, including task variety, task identity, task significance, autonomy, and feedback.