Asked by Murali Krishna on May 28, 2024
Verified
The role of accounting is to provide many different users with financial information to make economic decisions.
Economic Decisions
Choices made by individuals, businesses, or governments that involve the allocation of resources to achieve specific outcomes.
Financial Information
Data that reveals the monetary performance, position, and cash flows of an entity, used by stakeholders to make decisions.
- Appreciate the role of accounting in providing information for economic decision-making by various stakeholders.
Verified Answer
CC
Claudia CarrilloMay 30, 2024
Final Answer :
True
Explanation :
Accounting plays a crucial role in providing financial information to various users, including investors, creditors, management, government regulators, and other stakeholders, who make economic decisions based on the information provided by the accountants.
Learning Objectives
- Appreciate the role of accounting in providing information for economic decision-making by various stakeholders.
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