[Answer] Which of The following is the primary purpose of accounting ?

Answer: To identify record and communicate business transaction

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Which of The following is the primary purpose of accounting ? Which of the following is true of accrual basis accounting and cash basis accounting . Accrual accountings record revenue only when it is earned. Get fit now games a client who pre-pays $540 for a package of six physical training sessions. Get fit now collects $540 in … The primary purpose of managerial accounting is to prepare financial statements in accordance with a reporting framework (e.g. GAAP). False Generally Accepted Accounting Principles (GAAP) are designed to provide guidance for 6. The primary purpose(s) of financial accounting is (are) to: A. Measure and record business transactions . B. Prepare federal and state tax returns . C . Communicate financial results to investors and creditors. D. a and c Wed May 15 2019 · The purpose of accounting. May 15 2019/. The purpose of accounting is to accumulate and report on financial information about the performance financial position and cash flows of a business . This information is then used to reach decisions about how to manage the business or invest in it or lend money to it. The Purpose of Accounting From the illustration presented and for a straightforward answer it is clear that the ultimate purpose of accounting is to provide information to different users . Th...

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