The Most Important Function of an Accounting System Is To

question 37

Multiple Choice

The most important function of an accounting system is to:

• A) prepare accounting reports.
• B) keep employees from embezzling funds.
• C) provide information for decision-making, planning and control.
• D) collect and record data.

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Definitions:

Accumulate Fortunes

The process or act of amassing a significant amount of wealth or resources over time.

Poverty

The state of having insufficient financial resources to meet basic living needs such as food, shelter, and clothing.

Ethical Relativist

An individual who believes that morality is relative to the norms of one's culture, meaning that what is considered moral in one society may be considered immoral in another.

Central Authority

A central authority is a governing body or administrative organization that has primary responsibility for overseeing a specific area of policy or regulation at a national or international level.