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Financial accounting gathers and summarizes financial data to prepare financial reports such as balance sheet and income statement for the organization's management, investors, lenders, suppliers, tax authorities, and other stakeholders. When the auditor is satisfied that the financial statements are presented in accordance with generally accepted accounting principles, then a(n) Choose your answer from the pull-down menu below.
Qualified opinion is expressed. Financial accounting provides the rules and structure for the conveyance of financial information about businesses (and other organizations). At any point in time, some businesses are poised to prosper while others teeter on.
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