The primary objective of financial accounting is to: Multiple Choice Provide information on both the costs and benefits of looking after products and services. Monitor consumer needs, tastes, and price concerns. Provide accounting information that serves external users. Know what, when, and how much product to produce. Serve the decision-making needs of internal users.

Provide accounting information that serves external users.

Explanation:

Financial accounting is can be defined as the field of accounting involving specific processes such as recording, summarizing, analysis and reporting of financial transactions with respect to business operations over a specific period of time. Financial experts or accountant uses either the cash basis or accrual basis of accounting.

The primary objective of financial accounting is to provide accounting information that serves external users.

In Accounting, the external users of a financial accounting information includes customers, creditors, investors shareholders and government regulators.

The information that are found in a financial statement are revenues, expenses, liability, equity and assets.

Hence, financial accounting is aimed at providing information to external users, who are outside an organization.

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