What is the ultimate objective of accounting information?
A) faithful representation
B) decision usefulness
C) relevance
D) predictive value

Question

Quizplus · Accepted Answer

The ultimate objective of accounting information is decision usefulness. This means that the information provided by accounting processes is intended to be useful for making economic decisions, such as investing in or lending to a company. This encompasses ensuring the information is relevant, reliable, and can assist users in making predictions about the financial performance and position of an entity.

What Is the Ultimate Objective of Accounting Information