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Question
Do you agree or disagree with the following statement:
Accounting is useful only to the owner.
Options
Agree
Disagree
Solution
I disagree with the given statement.
Explanation:
The fact that accounting is a tool that is used for maintaining books and bookkeeping and it is not only useful for the business but is also used for the general public. Accounting is valuable to many stakeholders, not just the owner. It helps investors, creditors, employees, and the government understand the financial health of the business, make decisions, and ensure compliance.
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