[amp_mcq option1=”Profit or Loss and Assets and Liabilities of the business” option2=”Position of the Stock of Goods” option3=”Position of Cash” option4=”Errors and frauds of the employees” correct=”option2″]<\/p>\n
The main objective of accountancy is to know about the profit or loss and assets and liabilities of the business. This is because accounting is the process of recording, classifying, and summarizing financial information to provide decision-makers with the information they need to make sound business decisions. The information that is provided by accounting includes the profit or loss of the business, the assets and liabilities of the business, the cash flow of the business, and the financial position of the business. This information is used by managers, investors, creditors, and other stakeholders to make decisions about the business.<\/p>\n
Option A is the correct answer. Option B is incorrect because the position of the stock of goods is not a primary objective of accounting. Option C is incorrect because the position of cash is not a primary objective of accounting. Option D is incorrect because errors and frauds of the employees are not a primary objective of accounting.<\/p>\n","protected":false},"excerpt":{"rendered":"
[amp_mcq option1=”Profit or Loss and Assets and Liabilities of the business” option2=”Position of the Stock of Goods” option3=”Position of Cash” option4=”Errors and frauds of the employees” correct=”option2″]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[85],"tags":[],"class_list":["post-45912","post","type-post","status-publish","format-standard","hentry","category-accounting","no-featured-image-padding"],"yoast_head":"\n