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

To determine which of the given options is not a definition of accounting, let's analyze each one step by step:

1. "Accounting 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."

   • This is a valid definition of accounting, emphasizing its role in providing financial information for decision-making.

2. "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 thereof."

   • This is also a valid definition, highlighting the processes involved in accounting, such as recording, classifying, summarizing, and interpreting financial transactions.

3. "Accounting 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."

   • This definition describes the process of auditing rather than accounting. Auditing involves evaluating financial statements to ensure they meet established criteria, which is different from the broader scope of accounting.

4. "Accounting is the process of identifying, measuring, and communicating economic information to permit informed judgment and decisions by users of information."

   • This is a valid definition of accounting, focusing on the identification, measurement, and communication of economic information for informed decision-making.

Based on the analysis, the option that is not a definition of accounting is:

"Accounting 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."