Accounting is traditionally seen as fulfilling three functions:
A) Scorekeeping, attention-directing and problem-solving
B) Planning, decision-making and control
C) Financial accounting, management accounting and corporate finance
D) Income Statement, Balance Sheet and Statement of Cash Flows

Question

Quizplus · Accepted Answer

The three traditional functions of accounting are scorekeeping (tracking and recording financial transactions), attention-directing (highlighting financial strengths, weaknesses, opportunities, and threats), and problem-solving (providing information to solve financial problems).

Accounting Is Traditionally Seen as Fulfilling Three Functions