The correct answer is A. Profit maximization.
Accounting is the process of recording, measuring, and communicating financial information about economic entities to users such as investors, creditors, and managers. The primary functions of accounting are to provide financial information for decision-making, to protect the assets of the business, and to comply with government regulations.
Profit maximization is not a function of accounting because it is not a financial objective. The goal of accounting is to provide accurate and reliable information about the financial position and performance of a business, not to maximize profits.
B. Meeting statutory requirements is a function of accounting because businesses are required to keep accurate financial records and to file tax returns.
C. Protecting the assets of business is a function of accounting because accounting systems can be used to track and monitor assets, and to identify potential risks.
D. Organizing business records is a function of accounting because accounting systems can be used to store and organize financial information.