The primary objective of financial accounting is to:

A) Serve the decision-making needs of internal users.
B) Provide accounting information that serves external users.
C) Monitor consumer needs,tastes,and price concerns.
D) Provide information on both the costs and benefits of looking after products and services.
E) Know what,when,and how much product to produce.

Financial Accounting

The field of accounting focused on the summary, analysis, and reporting of financial transactions pertaining to a business, leading to the creation of financial statements.

Decision-making

The process of selecting the best course of action from available alternatives based on specific objectives and constraints.

External Users

Individuals or entities outside a company who use the company’s financial information for decision-making purposes.