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the purpose of the accounting function is to?

Forums › ACCA Forums › ACCA BT Business and Technology Forums › the purpose of the accounting function is to?

  • This topic has 3 replies, 3 voices, and was last updated 15 years ago by mayfikry.
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  • May 5, 2010 at 10:35 am #43751
    mayfikry
    Member
    • Topics: 23
    • Replies: 23
    • ☆

    the purpose of the accounting function is to:
    a) advise the management on the state of the assets and liabilities
    b) maintain comprehensive records of all transactions
    c) produce information for internal and external users
    d)produce information for decision making purposes
    so according to Kaplan the answer is D.
    but why cant the answers be C?
    Can someone please explain?

    May 5, 2010 at 1:51 pm #59996
    Anonymous
    Inactive
    • Topics: 0
    • Replies: 111
    • ☆☆

    Don’t think that other options are wrong when option A is correct. In MCQ, you are requested to choose the best option. In other words, the other three options may be acceptable or merely not so good as the designated answer.

    Option C here is not wrong but it is not so precise as option D. IAS1:9 stipulates that “the objective of financial statements is to provide information about the financial position, financial performance and cash flows of an entity that is useful to a wide range of users in making economic decisions“.

    May 5, 2010 at 2:19 pm #59997
    azfaradnan
    Member
    • Topics: 1
    • Replies: 9
    • ☆

    see as told by sosologos the other options are also right u have to choose the best…….. and the reason for choosing d by kaplan z to think y u create those a/cing records???????
    not only 4 check n balances but also for forcasting and to make decisions and so on…. the most comprehensive answer is d which is supposed to be the best answer.
    regards

    May 7, 2010 at 7:10 pm #59998
    mayfikry
    Member
    • Topics: 23
    • Replies: 23
    • ☆

    thanks for the help you guys!!

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