The Primary Objective of Accounting Is to

question 101

Multiple Choice

The primary objective of accounting is to

• A)implement strong internal controls.
• B)provide useful information to decision makers.
• C)prepare financial statements.
• D)ensure the profitability of an organization.

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Definitions:

State-dependent Memory

A phenomenon where a person's ability to recall information is improved when in the same state of consciousness as when the memory was formed.

Encoding

The method through which data is converted into a form that can be retained in memory.

Recall

The process of retrieving information from memory that has been previously encoded and stored.

State-dependent Memory

The phenomenon where information learned in a particular state of mind (e.g., emotional or physiological state) is more easily recalled when in the same state.