financial accounting focuses on the needs of external users, who get accounting information from general-purpose financial state

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Nezavi [6.7K]

2 years ago

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financial accounting focuses on the needs of external users, who get accounting information from general-purpose financial state

ments. true or false

Business

1 answer:

Anit [1.1K] · Answer 1 · 2023-08-13T14:40:24+03:00

It is a false statement that a financial accounting focuses on the needs of external users who get accounting information from general-purpose financial statements.

<h3>Who are external users of financial accounting?</h3>

An investors is the most common external users of financial statements because they make and assess their investment decisions by using relevant financial information in a company's financial statements

But external users of financial accounting such as shareholders, boards also uses the financial accounting, therefore, It is a false statement that a financial accounting focuses on the needs of external users who get accounting information from general-purpose financial statements.

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