Which of the Following Is Not a Basic Function of an Accounting

question 50

Multiple Choice

Which of the following is not a basic function of an accounting system?

• A)To interpret and record the effects of business transactions.
• B)To classify the effects of similar transactions in a manner that permits determination of various totals and subtotals useful to management.
• C)To ensure that a business organization will be managed profitably.
• D)To summarize and communicate information to decision makers.

Evaluate the role of core value studies in understanding cultural differences and similarities in personality development.

Understand the basic principles of demand, including the law of demand and factors that cause a shift in the demand curve.

Comprehend the basic principles of supply, including the law of supply and factors that contribute to a shift in the supply curve.

Identify different types of economic systems and their characteristics.

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Definitions:

Anticipated Satisfaction

The expectation of fulfillment or happiness one believes will come from acquiring or achieving something in the future.

Goal-Setting Process

A systematic approach to setting objectives that are specific, measurable, achievable, relevant, and time-bound (SMART).

Goal Quality

The extent to which goals set within an organization or by an individual are clear, attainable, and measurable.

Participation

The act of taking part or involving oneself in an activity or discussion within an organization to contribute to decision-making processes.