Which of the following is not a role of accounting in business?
A) to provide reports to users about the economic activities and conditions of a business
B) to personally guarantee loans of the business
C) to provide information to external users to determine the economic performance and condition of the business
D) to assess the various informational needs of users and design its accounting system to meet those needs

Question

Quizplus · Accepted Answer

Accounting is not responsible for personally guaranteeing loans of a business. Accounting plays a crucial role in providing reports and information to users, assessing informational needs, and designing an accounting system to meet those needs. The primary purpose of accounting is to provide financial information that helps business owners or managers make informed decisions about the economic performance and condition of the business.

Which of the Following Is Not a Role of Accounting