Introduction to Accounting NameEmail 1 / 2 What is the primary objective of a Financial Accounting system? To provide information primarily to the internal management team. To determine the cost of producing a specific product or service. To prepare a budget for the upcoming fiscal period. To ascertain the profitability and financial position of the business. 2 / 2 Which of the following best describes the process of Accounting? It is the process of creating transactions and preparing sales invoices. It is merely the systematic recording of all non-financial business events. It is the art of recording, classifying, and summarizing financial transactions and interpreting the results thereof. It is solely concerned with the preparation of tax returns for regulatory compliance. Your score isThe average score is 25% 0% Restart quiz
