The essential characteristic(s) of accounting is (are)
A) communication of financial information to interested internal parties only.
B) communication of economic information to external parties.
C) identification and measurement of financial information only.
D) identification, measurement, and communication of financial information.

Question

Quizplus · Accepted Answer

Accounting is a process of identifying, measuring, recording, and communicating financial information to both internal and external users. Therefore, the essential characteristic(s) of accounting is the identification, measurement, and communication of financial information.

The Essential Characteristic(s) of Accounting Is (Are)