BCS Written Accounting Practice Questions - BCS Written Post-Related Accounting, Subject Code 701, Total Marks 200 Exam

The main objective of financial accounting is to:

Record only cash receipts and ignore credit sales Minimise the firm’s income-tax assessment regardless of economic events Replace the need for an independent audit Provide periodic financial statements that fairly present results and position to external users

Correct Answer:

Provide periodic financial statements that fairly present results and position to external users

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