Accounting provides quantitative information about economic entities that is intended to be useful in making economic decisions.

Question

Quizplus · Accepted Answer

Accounting is designed to collect, record, analyze, and report financial information about the performance, financial position, and cash flows of an economic entity. This information is crucial for stakeholders, including investors, creditors, and management, to make informed economic decisions.

Accounting Provides Quantitative Information About Economic Entities That Is Intended