Chapter 01 A Framework for Financial Accounting True / False Questions 1. Accounting is a system of maintaining records of a company's operations and communicating that information to decision makers. True False 2. Accounting information is used by investors to decide whether to invest in a company's stock. True False 3. Accounting information is used by creditors to decide whether to invest in a company's stock. True False 4. The primary functions of financial accounting are to measure business activities of a company and to communicate those measurements to internal parties for decision-making purposes.
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