Question

A CFO is looking at the end-of-year financial statements. His goal is to identify the store that performed the best over the past year so he can give them an award. Which step in the accounting process is most important for helping him make this decision? Why?

Answer 1

Answer:

All accounting process are important.

Explanation:

All the recording of facts are important because the recording of facts enables the company to look the company with a financial perspective. In this scenario the accounting system can be used to see which store has generated more than the rest of the stores and will help CFO to reward the staff and use their tactics to implement in the other stores to increase the efficiencies of other stores.