Question Details

Financial statements are the principal means through which a company communicates 



TRUE OR FALSE:
1.	Financial accounting is the process of identifying, measuring, analyzing, and communicating financial information needed by management to plan, evaluate, and control a company- operations.
		
	2.	Financial statements are the principal means through which a company communicates its financial information to those outside it.

	3.	Users of financial reports of a company use the information provided by these reports to make their capital allocation decisions.

	4.	An effective process of capital allocation promotes productivity and provides an efficient market for buying and selling securities and obtaining and granting credit.

	5.	The objective of financial reporting is to report the plans made by a company to improve the productivity of its employees.




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