Recording,classifying,summarizing,and interpreting of financial events and transactions to provide management and other stakeholders the information they need to make good decisions is called:
A) Data processing
B) Accounting
C) Economics
D) Information technology

Question

Quizplus · Accepted Answer

The description given in the question is the definition of accounting. Data processing may be a part of accounting, but it is not a comprehensive answer. Economics and information technology are related to accounting but they do not fully describe the process of recording, classifying, summarizing, and interpreting financial events and transactions.

Recording,classifying,summarizing,and Interpreting of Financial Events and Transactions to Provide Management