The essential characteristic(s) of accounting is (are):
A) communication of financial information to interested persons.
B) communication of financial information about economic entities.
C) identification, measurement, and communication of financial information.
D) communication of financial information to interested persons, communication of financial information about economic entities, and identification, measurement, and communication of financial information.

Question

Quizplus · Accepted Answer

The essential characteristics of accounting include the identification, measurement, and communication of financial information about economic entities to interested persons. This encompasses all the elements listed in options A, B, and C, making D the comprehensive choice that accurately describes the essential characteristics of accounting.

The Essential Characteristic(s) of Accounting Is (Are)