Why does financial accounting have a positive impact on our society? a. It entails a detailed transaction record necessary for filing taxes with the Internal Revenue Service (IRS).b. It allows investors and creditors to redirect their resources to successful companies and away from unsuccessful companies.c. It prevents competitors from being able to steal the company’s customers.d. It provides a system of useful internal reports for management decision making.

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A: Financial Statement Analysis is the analysis of  Balance sheets, Income Statements and Cash Flows so…

Q: define financial accounting and explain its role in business

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: accounti

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Q: 20)Which of the following is the best definition of an internal user of accounting information? A)…

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A: Please see the next step for the solution

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Q: institutions

A: Thanks for the question. As per Bartleby answering guidelines, we are allowed to answer only first 3…

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A: Answer:   Option d.

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Q: 1.  Which of the following was the first private sector entity that set accounting standards in the…

A: We’ll answer the first question since the exact one wasn’t specified. Please submit a new question…

Q: Which of the following is correct criticism on the positive accounting theory? O a. It gives…

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Q: hat kinds of limitations exist in analyzing a company just by reading its financial reports?

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Fraud

Fraud in accounting is the planned manipulation of financial documents to make a false appearance of corporate financial health. Moreover, it includes an employee, accountant, or the company itself misleading investors and shareholders.