Although Accounting Has Several Specific Uses, the Overall Purpose of Accounting

Multiple Choice

Although accounting has several specific uses, the overall purpose of accounting can be summarized as

A) to provide financial information that is useful to decision makers.
B) to meet the legal requirements of the Financial Accounting Standards Board (FASB) .
C) to allow the government to track business activity levels.
D) to compute the profit or loss and declared dividend of a business firm.