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College Accounting, Chapters 1-27 22nd Edition

College Accounting, Chapters 1-27 (22nd Edition)

Book Edition22nd Edition
Author(s)Heintz, Parry
ISBN9781305666160
PublisherCengage
SubjectAccounting
End of Chapter
Applying Your Knowledge - Series A Exercises
Applying Your Knowledge - Series B Exercises
Applying Your Knowledge - Managing Your Writing
Chapter 1, End of Chapter, Applying Your Knowledge Review Questions, Exercise 1
Page 18

What is the purpose of accounting?

Here is a tip:

Accounting is a system of gathering information.

Explanation

The purpose of accounting is to provide an organized system to convey financial information about the operating, investing, and financial situation of a company to interested parties ranging from individuals to large entities. 

Verified Answer

The purpose of accounting is to provide an organized system to convey financial information about a company.

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Page 18
Additional Resources