Which Statement Below Best Describes the Objectives of Financial Accounting

question 126

Multiple Choice

Which statement below best describes the objectives of financial accounting?

• A)Provide information that helps predict cash flows.
• B)Provide information about the economic resources,claims to resources and changes in resources and claims.
• C)Provide information that is useful in making decisions.
• D)All of the other answers are objectives of financial accounting.

---

Definitions:

Profits

The profit made when the income generated from business operations is greater than the expenses, costs, and taxes required to maintain the operations.

Process Reengineering

The essential reconsideration and complete overhaul of business operations to attain significant enhancements in vital performance metrics, including cost, quality, service, and speed.

Systems Bottlenecks

Points to specific points or stages within a system or process that slow down overall throughput or efficiency due to limited capacity or resources.

Duplication of Work

The unnecessary repetition of tasks in an organization, leading to inefficiency and waste of resources.