a. the determination of and the fulfilling of customer needs and desires while achieving the organization’s goals.
b. the creating of value for the customer and profits for the owners.
c. the recording, summarizing, and reporting of the economic activities and events of an organization.
d. the starting, owning, or running of a large or small business.
e. the claim that the purpose of a business is to benefit society at large.
1 answer
The correct definition of accounting from the options provided is:
c. the recording, summarizing, and reporting of the economic activities and events of an organization.
Accounting is primarily concerned with capturing financial transactions, summarizing them, and reporting the financial status and performance of an organization.
