Accounting Multiple Choice Question – 17 January 2025

When a company’s accounting and finance function prepares financial statements in accordance with legal rules and accounting standards, it is engaged in the support activity of?

Select ONE answer:

1. Record-keeping and stewardship
2. Planning and control
3. External reporting
4. Internal reporting

Show your workings to arrive at your answer, and explain and justify your reasons:

……………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………………

This multiple-choice question is suitable for Accounting KS5 classes.

The answer is 3

1. Not correct
2. Not correct
3. Correct == > External reporting is financial reporting – producing financial statements which are used primarily by external users.
4. Not correct

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