Accounting systems should recordA) all economic events.B) events that result in a change in assets, liabilities, or shareholders' equity items.C) only events that involve cash.D) only events that include revenues, expenses, and cash.

Question

Pantelia Lamnatos · Accepted Answer

Final Answer : B, Explanation :  Accounting systems are designed to record events that result in a change in assets, liabilities, or shareholders' equity items. This includes a wide range of transactions beyond just those involving cash or strictly revenues, expenses, and cash.

Accounting systems should record

A) all economic events.
B) events that result in a change in assets, liabilities, or shareholders' equity items.
C) only events that involve cash.
D) only events that include revenues, expenses, and cash.

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