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For the following statements identify if they are true or false. 1. Financial accounting is...

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Accounting

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For the following statements identify if they are true or false. 1. Financial accounting is the process by which information on organizational transactions is captured, analyzed, and reported to internal decision makers, 2. The main purpose of financial accounting is to aid users in making economic decisions relative to the organization. 3. An annual report is made available to the company's owners but other parties such as banks and taxation authorities also use it. 4. Users such as management inside the organization may also use financial information but often they require a different level of detail

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