Question

the primary objective of financial accounting is to
multiple choice
serve the decision - making needs of internal users.
provide accounting information that serves external users.
monitor consumer needs, tastes, and price concerns.
provide information on both costs and benefits of looking after products and services.
know what, when, and how much product to produce

Explanation:

To determine the primary objective of financial accounting, we analyze each option:

• The first option refers to managerial accounting (serving internal users), not financial accounting.
• The second option is correct because financial accounting focuses on providing financial information (like financial statements) to external users such as investors, creditors, and regulators.
• The third option is related to marketing or market research, not accounting.
• The fourth option is about cost - benefit analysis in a broader operational context, not the main goal of financial accounting.
• The fifth option pertains to production planning, not accounting.

Answer:

B. Provide accounting information that serves external users.