00:01
Hello students, here is a question.
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For the following statement, identify if they are true or false.
00:05
So, here are the statements.
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We will identify whether it belongs to true or false.
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The first is, financial accounting is a process by which information on organizational transactions is captured, analyzed and reported to an internal decision maker.
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So, the answer will be, answer is false for this.
00:33
So, because financial accounting is a process by which information in an organization are used in making an economic decision, organization captured and analyzed the report of external decision makers such as investor, creditors and regulators.
00:50
So, that is why this answer is false.
00:52
And when it comes to the second statement, the main purpose of financial accounting is to aid users making economic decision relative to organizational organization.
01:03
So, this is true...