Q28
Type of accounting which reports to external parties of organization is known as
A.
cost accounting
B.
decision accounting
C.
financial accounting
AnswerD.
management accounting
Answer: Option C
Solution
Answer: Option C
Solution:
Type of accounting which reports to external parties of organization is known as financial accounting. Financial accounting is a specific branch of accounting involving a process of recording, summarizing, and reporting the myriad of transactions resulting from business operations over a period of time.