Which of the following is the most appropriate and modern definition of accounting?
A) Electronic collection,organization,and communication of vast amounts of information
B) The interconnected network of subsystems necessary to operate a business
C) A means of recording transactions and keeping records
D) The measurement,processing,and communication of financial information about an identifiable economic entity

Question

Quizplus · Accepted Answer

The definition in choice D encompasses the traditional functions of accounting (measurement and recording of transactions) as well as the modern emphasis on communication and analysis of financial information. Choice A is too specific to technology, choice B is too general, and choice C is too narrow in scope.

Which of the Following Is the Most Appropriate and Modern