The most important function of an accounting system is to:
A) prepare accounting reports.
B) keep employees from embezzling funds.
C) provide information for decision-making, planning and control.
D) collect and record data.

Question

Quizplus · Accepted Answer

While all of the options listed are important functions of an accounting system, the most important is providing information for decision-making, planning, and control. This involves analyzing and interpreting data to make informed decisions and develop effective strategies for the future success of the business. Accounting reports, detecting fraud, and collecting data are all necessary components of accounting, but they all ultimately support the larger goal of providing useful information for decision-making.

The Most Important Function of an Accounting System Is To