The measurement stage of accounting is accomplished by
A) recording data.
B) reporting to decision makers.
C) processing data.
D) storing data.

Question

Quizplus · Accepted Answer

The measurement stage of accounting primarily involves recording data, such as financial transactions and events, in a systematic and organized manner. This involves capturing relevant information about the financial impact of business activities, such as receipts, invoices, payables, etc., and processing it into an accounting system, such as a ledger or journal. This information serves as the basis for further analysis and reporting to decision makers. Processing, storing, and reporting data are also important aspects of accounting, but they are secondary to the primary task of measuring economic activity.

The Measurement Stage of Accounting Is Accomplished by