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take a moment to review the purpose of accounting.
What is the purpose of accounting in business?
A. To record financial transactions
B. To compute expenses and revenues
C. To help managers create profits
D. To provide information to investors

Verified Answer :

GinnyAnswer

Final answer:

Accounting in business is vital for financial decision-making and accountability.


Explanation:

The purpose of accounting in business is crucial for making informed financial decisions.

Financial statements are produced to analyze an organization's financial health and performance based on past transactions.

Accounting helps in providing information to investors, assisting managers in creating profits, and ensuring accountability within organizations.


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