What is the primary objective of costing and accounting systems? Question 3Answer a. Controlling market competition b. Maximizing profits c. Minimizing costs d. Recording and reporting financial transactions
The primary objective of costing and accounting systems is:
d. Recording and reporting financial transactions
While maximizing profits, minimizing costs, and controlling market competition are important aspects of business management, the fundamental role of costing and accounting systems is to accurately record and report financial transactions to provide relevant information for decision-making.