The field of accounting may best be described as:
A)Recording the financial transactions of an economic entity.
B)Developing information in conformity with generally accepted accounting principles.
C)The art of interpreting,measuring,and describing economic activity.
D)Developing the information required for the preparation of income tax returns.

Question

Quizplus · Accepted Answer

Accounting is best described as the art of interpreting, measuring, and describing economic activity, as it encompasses recording, analyzing, and reporting financial transactions and information.

The Field of Accounting May Best Be Described As