Final answer:
True
Financial accounting reports are indeed general-purpose and are intended mainly for external users such as investors and creditors, providing necessary financial information for decision-making.
Step-by-step explanation:
The statement that financial accounting reports are general-purpose and intended for external users is True.
Financial accounting is designed to provide information about the financial position and performance of an enterprise that is useful to a wide range of users in making economic decisions.
These reports, which include balance sheets, income statements, and cash flow statements, among others, are standardized to ensure consistency and comparability for investors, creditors, regulators, and other stakeholders outside of the company.