The primary objective of financial accounting is to:a) Provide management with detailed reports for decision-making.b) Help the company save taxes.c) Provide financial information to external users.d) Track inventory levels. need help!
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The primary objective of financial accounting is to:
a) Provide management with detailed reports for decision-making.
b) Help the company save taxes.
c) Provide financial information to external users.
d) Track inventory levels.
need help!
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- Which area of accounting needs a computerized accounting information system the most—payroll, tax, or preparing financial statements?The primary objective of financial accounting is to:a) Provide management with detailed reports for decision-making.b) Help the company save taxes.c) Provide financial information to external users.d) Track inventory levels. please help.The primary objective of financial accounting is to:a) Provide management with detailed reports for decision-making.b) Help the company save taxes.c) Provide financial information to external users.d) Track inventory levels.
- An internal accounting system should: a. provide information to enable costs to be minimized b. provide financial accounting data for external reporting purposes c provide management accounting information for decision-making d. provide data for tax purposes e. all of the aboveFinancial accounting deals with the following except Select one: a. Prepares the budgets and estimates cost volume profit relationships b. preparation of financial statements C. Analysis of transactions, journalizing, ledger posting d. retained earnings statements, cash flow statementsWhich of the following statements is/ are not true? Financial accounting information can be used for internal reporting purposes. Routine information can be used to make decisions regarding both long term and the short term. Management accounting provides information relevant to decision making, planning, control and evaluation of performances. Cost accounting can only be used to provide inventory valuations for internal reporting.
- The most general and most important objective of financial reporting is to: A. Provide useful information for decision making B. Ensure management objectives are met C. Safeguard the company's assets D. Keep information summarized, simplified and condensed Reset SelectionThe accounting system should provide information for: Select one: O A. Reporting actual performance to managers O B. Strategic decisions O C. Preparation of financial statements O D. All of the above.Which of the following is TRUE of both financial accounting and management accounting? a. The emphasis is on timeliness and flexibility b. They use the information provided by the cost accounting system c. It generates general-purpose financial statements d. They are regulated by accounting standards and statute
- What is the purpose of financial accounting? a) To provide information for internal decision making b) To record and report financial transactions c) To analyze market trends and forecasts d) To manage the company's budgetManagerial accounting reports are prepared: Oa. to provide creditors with information useful in making credit decisions. Ob. to meet the needs of decision makers within the firm. Oc. to present historical information. Od. All of these choices are correct.Which of the following best describes the activities of the accounting function? a. inventory control, accounts payable, fixed assets, and payrollb. fixed assets, accounts payable, cash disbursements, and cost accounting c. purchasing, cash receipts, accounts payable, cash disbursements, and payroll d. inventory control, cash receipts, accounts payable, cash disbursements, and payroll e. inventory control, cost accounting, accounts payable, cash disbursements, and payroll
