Accounting does not provide information that is useful in making decisions that have economic consequences.

Question

Quizplus · Accepted Answer

Accounting provides various financial information, including income statements, balance sheets, cash flow statements, and other financial reports. These reports are used by managers, investors, creditors, and other stakeholders to make informed decisions about the allocation of resources, investment opportunities, and financial management. Therefore, accounting clearly provides information that is useful in making decisions that have economic consequences.

Accounting Does Not Provide Information That Is Useful in Making