Nonfinancial information should be collected because
A)it may indicate events that may affect resources.
B)it can be used to plan other activities.
C)it can be used in transaction processing.
D)both A and B

Question

Quizplus · Accepted Answer

Nonfinancial information can provide insight into events or factors that may affect an organization's resources, and it can also be useful for planning activities beyond financial management. Therefore, both options A and B are correct. Nonfinancial information typically would not be used in transaction processing, making option C incorrect.

Nonfinancial Information Should Be Collected Because