The Most Important Function of an Accounting System Is To

question 25

Multiple Choice

The most important function of an accounting system is to:

• A) keep employees from embezzling funds.
• B) communicate financial information to managers.
• C) prepare accounting reports.
• D) collect and record data.

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Definitions:

Collaborative Consumption

A modern economic model involving sharing, swapping, bartering, trading, or renting access to products as opposed to ownership, typically facilitated by community-based online services.

Information Infrastructure

The foundational systems and services that support the management, processing, and exchange of information.

Shared Economy

An economic model based on sharing, renting, or borrowing goods and services rather than owning them, facilitated by peer-to-peer platforms.

Virtual Marketplaces

Online platforms where buyers and sellers meet to exchange goods, services, or information, often transcending geographical and physical boundaries.