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)all of these.

Question

Quizplus · Accepted Answer

Accounting involves the identification, measurement, and communication of financial information about economic entities. This information is communicated to interested persons, such as investors, creditors, and management, to help them make informed decisions. Therefore, all of the choices listed - communication of financial information to interested persons, communication of financial information about economic entities, and identification, measurement, and communication of financial information - are essential characteristics of accounting.

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