The primary role of accounting is to:
A)Detect and prevent fraud.
B)Maintain employee pay records.
C)Measure the costs and benefits of decision options.
D)Prepare reports for the government.
E)None of the above.

Question

Quizplus · Accepted Answer

The primary role of accounting is to measure the costs and benefits of decision options by analyzing financial transactions and generating financial reports. Accounting also plays a key role in providing information for decision-making, budgeting, forecasting, and evaluating the financial performance of a business. While detecting and preventing fraud, maintaining employee pay records, and preparing reports for the government are all important aspects of accounting, they are not the primary role of accounting.

The Primary Role of Accounting Is To