Which of the following is not the objective of accounting?
A)To maintain records of business
B)To ascertain profit or loss of the business
C)To depict capital, liabilities and assets of the business.
D)To provide information about the personal assets and personal liabilities of the owners of the business.

Question

Quizplus · Accepted Answer

The primary objectives of accounting are to maintain records of the business, ascertain its profit or loss, and depict its financial position in terms of capital, liabilities, and assets. Accounting does not aim to provide information about the personal assets and personal liabilities of the business owners; it focuses on the business entity's financial information.

Which of the Following Is Not the Objective of Accounting