The Primary Objective of Financial Accounting Is

question 188

Multiple Choice

The primary objective of financial accounting is:

• A) To serve the decision-making needs of internal users.
• B) To provide financial statements to help external users analyze an organization's activities.
• C) To monitor and control company activities.
• D) To provide information on both the costs and benefits of looking after products and services.
• E) To know what, when, and how much to produce.

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Definitions:

Tedious Jobs

Work that is perceived as long, repetitive, dull, and often requiring a great deal of patience.

Maslow's Hierarchy

A theory in psychology proposed by Abraham Maslow in his 1943 paper "A Theory of Human Motivation," which posits that people are motivated to achieve certain needs and that some needs take precedence over others, forming a hierarchy.

Low Cost Rewards

Incentives offered by organizations that have minimal financial impact but can significantly boost employee morale and motivation.

Recognition And Praise

Acknowledgment and appreciation shown towards individuals for their achievements or contributions, often used as a motivational tool.