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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?
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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“.
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
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