The basic role of accounting is to?
FINANCIAL
JAMB 2021
The basic role of accounting is to?
- A. detect fraud
- B. attest to financial statements
- C. measure performance
- D. protect shareholders
Correct Answer: C. measure performance
Explanation
The role of accounting in business is to help internal and external stakeholders make better business decisions by providing them with financial information. This means that., the purpose of accounting is to accumulate and report on financial information about the performance, financial position, and cash flows of a business. This information is then used to reach decisions about how to manage the business, or invest in it, or lend money to it.
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