The Primary Objective of Financial Accounting Is To

question 27

Multiple Choice

The primary objective of financial accounting is to:

• A)Serve the decision-making needs of internal users.
• B)Provide accounting information that serves external users.
• C)Monitor and control company activities.
• D)Provide information on both the costs and benefits of looking after products and services.
• E)Know what,when,and how much product to produce.

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Definitions:

Direct Approach

A communication method where the main idea or purpose of the message is stated immediately at the beginning.

Telephone Claims

Requests or reports made over the phone, typically to insurance companies, about damages or losses.

Express Emotion

The process of conveying one's feelings to others through words, actions, or expressions.

Claim Promptly

The act of quickly reporting or making a formal request, often in the context of customer service or insurance, to address an issue or to receive benefits.