Mcgraw hill connect accounting chapter 2 homework answers

Answer:

There are two reasons for financial accounting.

- Find out how a business works.

- Give information to other people to help them decide what to do.

A company’s ability to keep track of its money transactions is greatly facilitated by financial accounting. It’s a necessary evil of running a business, no matter how mundane or out of the ordinary it seems. It is the method by which a company records and reports its financial transactions. As a result, both internal management and external stakeholders, such as investors and analysts, are able to assess the company’s health and make informed decisions.