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 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

Accounting information is considered to be relevant when itGroup of answer choicesCan be depended on to represent the economic conditions and events that it is intended to represent.Is capable of making a difference in a decisionIn understandable by reasonably informed users of accounting informationIs verifiable and neutral

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

Accounting has been given various definition, which of the following is not one of those definitions?Group of answer choicesAccounting is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities that is intended to be useful in making economic decisions.Accounting is an art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are, in part of at least, of a financial character and interpreting the result thereofAccounting is a systematic process of objectively obtaining and evaluating events to ascertain the degree of correspondence between these assertions and established criteria and communicating the results to interested users.Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgment and decisions by users of information

12.According to the Statement of Accounting Concepts 2, the objective of general-purpose financial reporting is to provide information to users that is useful for making and evaluating decisions about:单选题  Aprofitable investmentsBlending strategiesCimproving asset liquidityDthe allocation of scarce resources