Accounting provides financial information that can be useful to owners, creditors, suppliers, employees, and competitors of an organization.

Question

Quizplus · Accepted Answer

Accounting involves recording, classifying, summarizing, and interpreting financial transactions to provide information that can be useful in making business decisions. This information can be utilized by various stakeholders such as owners, creditors, suppliers, employees, and competitors for different purposes. Therefore, the statement is true.

Accounting Provides Financial Information That Can Be Useful to Owners