An accountant received a stack of sales invoices.Which of the following statements is most true?
A)The stack of sales invoices can help the accountant identify economic information, which is part of both accounting and bookkeeping.
B)The accountant is a "user of information" as the phrase is used in the definition of bookkeeping only.
C)The accountant is a "user of information" as the phrase is used in the definition of accounting only.
D)The stack of sales invoices can help the accountant identify economic information, which is part of bookkeeping, but not accounting.

Question

Quizplus · Accepted Answer

The stack of sales invoices can provide economic information that is relevant for both accounting (recording and summarizing financial transactions) and bookkeeping (organizing and storing financial data). Therefore, Option A is the correct answer. Option B and C are incorrect, as the accountant is a user of information in both accounting and bookkeeping. Option D is also incorrect as economic information is relevant for both accounting and bookkeeping.

An Accountant Received a Stack of Sales Invoices