Accounting information:
A) is helpful for financing decisions but not for marketing decisions.
B) is useful for profit-making entities but is not needed for not-for-profit entities.
C) must follow accounting principles provided by management.
D) is useful for all economic organisations.

Question

Quizplus · Accepted Answer

Accounting information is useful for all economic organizations, both for-profit and not-for-profit entities. It is used to make informed decisions regarding financial matters, such as revenue, expenses, and investments. It can also provide insights into the financial health of an organization, which can be useful for making strategic decisions. Accounting principles must be followed in order to ensure accurate and reliable information is being reported.

Accounting Information