To effectively run a business, it is necessary to
A) hire a full-time accountant.
B) use a public accounting firm.
C) understand and use accounting information.
D) make certain that you do not spend too much time on your accounting system.

Question

Quizplus · Accepted Answer

Understanding and using accounting information is essential for running a business effectively. It allows business owners to make informed decisions about financial matters and track their progress towards achieving financial goals. While hiring a full-time accountant or using a public accounting firm can be helpful, it may not be necessary or feasible for every business. However, neglecting the accounting system altogether can have serious consequences for the business's financial health.

To Effectively Run a Business, It Is Necessary to