Question: Identify the fallacies, half-truths, circular reasoning, erroneous comments or conclusions, and/or inconsistencies in the following statement: Accounting is a service industry. Its function is to

Identify the fallacies, half-truths, circular reasoning, erroneous comments or conclusions, and/or inconsistencies in the following statement: Accounting is a service industry. Its function is to provide quantitative financial information that is intended to be useful in making economic decisions about and for companies. Thus, the accounting function might be viewed primarily as being a tool or device for providing quantitative financial information to management to facilitate decision making.

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