Question

Identify which of the following statement(s) is (are) correct as to why accounting is important. (check all that apply.) managers, creditors, investors and owners need reliable financial information in order to make decisions. Accounting information summarizes or conveys information about an organization’s business activities. Accounting information identifies, records and communicates information about a business

Answer 1

Answer:

The correct statements are A, B and C

Explanation:

Accounting plays a important role while running a business as it helps the company in keeping a track of expenditures as well as income, it ensures the statutory compliance.

Provide the owners, managers, investors and creditors reliable information so that could take the decisions.

It summarizes the information and help in conveying the information related to the firm activities.

It records as well as communicate the information regarding the business.