The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is
A) cost effectiveness.
B) flexibility.
C) useful output.
D) implementation.

Question

Quizplus · Accepted Answer

The principle of an efficient accounting system that states that an accounting system should accommodate a variety of users is flexibility. This means that the system should be able to accommodate different types of users with different needs, such as managers, investors, regulators, and auditors, by providing them with relevant and timely information in a format that is useful to them. Cost effectiveness, useful output, and implementation are also important principles of an efficient accounting system, but they do not specifically address the need for flexibility to accommodate different users.

The Principle of an Efficient Accounting System That States That