Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called
A) finance.
B) auditing.
C) accounting.
D) economics.

Question

Quizplus · Accepted Answer

Accounting is the process of recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision-making. Finance is the management of money, investments, and other financial instruments. Auditing is the examination of financial information to ensure its accuracy and compliance with regulations. Economics is the study of the production, distribution and consumption of goods and services.

Recording, Classifying, and Summarizing Economic Events in a Logical Manner