Question

q5 The primary objective of accounting is to implement strong internal controls. provide useful information to...

q5 The primary objective of accounting is to
implement strong internal controls.
provide useful information to decision makers.
prepare financial statements.
ensure the profitability of an organization.
Business   Accounting   
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Answer #1

Answer:

Option B: Providing useful information to decision-makers

Explanation:

Accounting refers to the process of recording, classifying, summarizing, analyzing, and communicating the financial information to decision-makers.

The goal of accounting is to convey all the useful information about the entity to the decision-makers or the stakeholders, such as owners, banks, management, employees, creditors, etc.

Preparing financial statements and calculating profitability is part of accounting process, but they are not the primary objectives of accounting.

Accounting does not ensure strong internal controls.

Hence,

Option 'B' is correct and rest all are incorrect.

In case of any doubt, please feel free to comment.

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