The sole purpose of accounting is to help managers evaluate the financial condition of the firm so that they may make better pricing decisions.

Question

Quizplus · Accepted Answer

The purpose of accounting is not limited to helping managers make pricing decisions, but rather includes providing information for decision-making, financial reporting, and compliance with regulations. Pricing decisions may be part of the information used by managers, but accounting serves a broader purpose.

The Sole Purpose of Accounting Is to Help Managers Evaluate