Answer-The primary objective of financial accounting is to:

While management uses accounting data, the primary purpose of financial accounting is to communicate the financial position and performance to external stakeholders like investors, creditors, and regulators.

Question

The primary objective of financial accounting is

to:

A Assist the management in planning and control.

B Provide information to external users for decision-making.

C Calculate the amount of tax liability.

D Record day-to-day business transactions.

E Determine the market value of the business.

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The primary objective of financial accounting is

Solution