What is the primary goal of accounting?
A)To set long-term goals and objectives.
B)To arrange for the necessary resources to achieve a plan.
C)To provide information for decision making.
D)To motivate others to work towards a plan's success.

Question

Quizplus · Accepted Answer

The primary goal of accounting is to provide information for decision making. Accounting involves tracking, recording, and analyzing financial transactions to provide users with useful and relevant information to make informed decisions. This information is used by managers, investors, creditors, and other stakeholders to evaluate the financial health and performance of an organization, and to make decisions about resource allocation, investment, and other strategic choices. While setting long-term goals, arranging resources, and motivating others are important functions of management, they are not the primary goal of accounting.

What Is the Primary Goal of Accounting