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What is Financial Accounting? (10 marks). Using your own words (do not copy or take from other sources- this will result in a grade of
What is Financial Accounting? (10 marks). Using your own words (do not copy or take from other sources- this will result in a grade of 0), max words 100 (about 1/2 page). What is the main purpose/reason/objective of/for financial accounting? What are the two main decisions/evaluations that financial accounting (through the information and statements that it provides) helps businesss owners/managers make? (Hint, one is short term and one is longer term) What are the proper titles of the 4 primary statements, what does each one tell users about the company, and what is the information that flows from one statement to the next? (10 marks). Max words 100 (about 1/2 page)
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