Enabled: Module $5\mathrm{.}1$ Assessment $($i$)$

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Although accounting has several specific uses, the overall purpose of accounting can be summarized as

Multiple Choice

to compute the profit or loss and declared dividend of a business firm.

to provide financial information that is useful to decision makers.

to meet the legal requirements of the Financial Accounting Standards Board $($FASB$).$

to allow the government to track business activity levels.

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