What are two major purposes of accounting?Multiple select question.to provide economic predictions by which to guide the firmto help managers make well-informed decisionsto determine the strength of the firm's stakeholdersto report financial information to interested stakeholders

What is the basic purpose of accounting?Group of answer choicesA. To provide quantitative financial information about economic activitiesB. To provide all information that users need in making economic decisions.C. To provide qualitative financial information about economic activities intended to be useful in making economic decisions.D. To provide quantitative financial information about economic activities intended to be useful in making economic decisions

What is the primary goal of management accounting?To provide information that can be quantified in monetary termsTo provide information to shareholdersTo provide information that improves the quality of managers' decisionsTo provide information that conforms to the accounting regulations

Multiple Select QuestionSelect all that applyThe purpose of a responsibility accounting system is to provide information to: (Check all that apply.)Multiple select question.assign costs and expenses to the managers responsible for controlling them.evaluate the profitability or cost effectiveness of each department's activities.evaluate managers' performance.prepare financial statements for creditors and owners.

(c) How Accounting Information Helps Stakeholders in Decision-Making

The purpose of a responsibility accounting system is to provide information to: (Check all that apply.)Multiple select question.assign costs and expenses to the managers responsible for controlling them.evaluate the profitability or cost effectiveness of each department's activities.prepare financial statements for creditors and owners.evaluate managers' performance.