An organization’s investors and creditors will primarily use information provided by:a. the organization’s financial accounting system.b. the organization’s managerial accounting system.c. the Internal Revenue Service.d. the Financial Accounting Standards Board.

An organization’s investors and creditors will primarily use information provided by:a. the organization’s financial accounting system.b. the organization’s managerial accounting system.c. the Internal Revenue Service.d. the Financial Accounting Standards Board.

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Question

An organization’s investors and creditors will primarily use information provided by:
a. the organization’s financial accounting system.
b. the organization’s managerial accounting system.
c. the Internal Revenue Service.
d. the Financial Accounting Standards Board.

Definition Definition Process by which financial information is analyzed, interpreted, and communicated to managers to support the achievement of an organization's goals. The main objective of managerial accounting is to maximize profits and minimize losses.

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