Question

The primary function of accounting is to ____________.

• A. record economic data.
• B. provide the informational basis for action.
• C. classify and record business transactions.
• D. attain non-economic goals.

Answer 1

The correct option is B provide the informational basis for action.

• Accounting means systematic recording of the transaction in the books of account.
• The basic function of accounting is to provide useful information to the users for decision making.