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JAMB Principles of Accounts 1997 Question 1

Question 1

Introduction to Accounting

The most important reason for studying Accounting is that

  1. A.the information provided by Accounting is useful in making decisions
  2. B.Accounting plays an important role in a society
  3. C.the study of Accounting leads to a challenging career
  4. D.Accounting provides gross profit information.
Show the answer and explanation

Answer: A (the information provided by Accounting is useful in making decisions)

Explanation

Accounting exists mainly to give users information on which to base economic decisions.