In what ways does accounting information proactively interact with its environment?
What will be an ideal response?
Answer: Financial accounting is proactive in that it can change or influence its environment by providing feedback information that is used by organizations and individuals to reshape the economy. Accounting information is used to efficiently allocate capital resources throughout the economy. Accounting standards can also influence managerial behavior.
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A party acting alone can be liable for anticompetitive activities under Section 1 of the Sherman
Act. Indicate whether the statement is true or false
An iso-profit line:
A) can be used to help solve a profit maximizing linear programming problem. B) is parallel to all other iso-profit lines in the same problem. C) is a line with the same profit at all points. D) all of the above E) none of the above