Which of the following is true of financial accounting information? Select one: a.It focuses on the past-oriented financial performance of a company. b.It is primarily used by managers to make internal business decisions. c.It is prepared based on cost-benefit analysis. d.It only measures the cash transactions of a company.

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter4: The Balance Sheet And The Statement Of Shareholders' Equity
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Which of the following is true of financial accounting information?

Select one:
a.It focuses on the past-oriented financial performance of a company.
b.It is primarily used by managers to make internal business decisions.
c.It is prepared based on cost-benefit analysis.
d.It only measures the cash transactions of a company.
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