Question
The goal of accounting is to provide useful information for decision. Therefore, financial accounting is governed by concepts and rules knows as generally accepted accounting
The goal of accounting is to provide useful information for decision. Therefore, financial accounting is governed by concepts and rules knows as generally accepted accounting principles (GAAP).
A) Explain that sentence showing the qualitative characteristics of useful information.
B) The information needs of a specific user of financial accounting information depends upon the kinds of decisions that user makes. Identify the major users of accounting information and discuss what questions financial accounting information answers for each group of users.
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