The best description of the primary purpose of providing accounting information is:
A)to allow the preparation of a taxation return.
B)to assist users in making informed decisions.
C)to calculate the bank account balance.
D)to enable the financial statements to be prepared.

Question

Quizplus · Accepted Answer

The primary purpose of providing accounting information is to assist users in making informed decisions. This can include decisions related to investing, lending, employee remuneration, and overall financial health of the organization. While accounting information may be used for taxation purposes, calculating bank account balances, and preparing financial statements, these are not the primary purposes of accounting information.

The Best Description of the Primary Purpose of Providing Accounting