Accounting for IGCSE & O level - The Fundamentals Of Accounting (Section 18 - No. 47)
What is the primary goal of financial accounting?
To provide information to internal management for decision-making.
To provide information to external users for decision-making.
To manage daily cash flow.
To minimize tax liabilities.
Explanation
Financial accounting focuses on providing relevant and reliable financial information to external users such as investors and creditors.
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