Multiple Choice
Which of the following is not a role of accounting in business?
A) to provide reports to users about the economic activities and conditions of a business
B) to personally guarantee loans of the business
C) to provide information to external users to determine the economic performance and condition of the business
D) to assess the various informational needs of users and design its accounting system to meet those needs
Correct Answer:

Verified
Correct Answer:
Verified
Q54: Purchasing supplies on account increases liabilities and
Q66: On May 7, Carpet Barn Company offered
Q79: Which of the items below is not
Q89: Generally accepted accounting principles regulate how and
Q136: Match each transaction with its effect on
Q170: Match each transaction with its effect on
Q238: Which of the following groups are considered
Q242: Which of the following financial statements reports
Q246: Explain the meaning of the business entity
Q247: A financial statement user would determine if