Question

What is the main purpose of financial accounting?



select one:



a. Minimize company taxes



b. Keep track of company expenses



c. Organize financial information



d. Provide useful, financial information to outsiders?

Answer 1

Answer:

The purpose of accounting is to provide the information that is needed for sound economic decision making. The main purpose of financial accounting is to prepare financial reports that provide information about a firm's performance to external parties such as investors, creditors, and tax authorities.

Answer 2

Explanation:

organize financial information