What is the purpose of accounting?

What is the purpose of accounting?

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January 2, 2022
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What is the purpose of accounting?

Answer and ExplanationSolution by a verified expert

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Accounting is a system of gathering information.

Explanation
The purpose of accounting is to provide an organized system to convey financial information about the operating, investing, and financial situation of a company to interested parties ranging from individuals to large entities.

Verified Answer
The purpose of accounting is to provide an organized system to convey financial information about a company.

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