An internal accounting system should:
A)provide information to enable costs to be minimized
B)provide financial accounting data for external reporting purposes
C)provide management accounting information for decision-making
D)provide data for tax purposes
E)all of the above

Question

Quizplus · Accepted Answer

An internal accounting system should do all of the above - provide information to minimize costs, provide financial accounting data for external reporting purposes, provide management accounting information for decision-making, and provide data for tax purposes. This comprehensive approach ensures that the accounting system is useful for both internal and external stakeholders and helps the organization make informed decisions.

An Internal Accounting System Should