The role of accounting in business is best defined as:

Question

Quizplus · Accepted Answer

Accounting is primarily an information system that collects, records, and analyzes financial data to provide reports to stakeholders about the economic activities and condition of a business. While forecasting and strategic planning may be informed by accounting information, they are not the primary role of accounting. Transaction analysis is a component of accounting, but not the comprehensive definition.

The Role of Accounting in Business Is Best Defined As