The best description of the primary purposes of providing accounting information is:
A) to calculate the bank account balance.
B) to enable the financial statements to be prepared.
C) to allow the preparation of a taxation return.
D) to assist users in making informed decisions.

Question

Quizplus · Accepted Answer

The primary purpose of providing accounting information is to assist users in making informed decisions. While calculating bank account balance, preparing financial statements, and preparing taxation return are all possible outcomes of accounting information, they are not the primary purposes for providing it.

The Best Description of the Primary Purposes of Providing Accounting