Question
The process of accounting is needed to: assist manager in making loan payments in a timely manner assist managers in approving staff annual leave. assist employees in the finance department in approving staff ber assist accountants in preparing a trial balance. assist users in decision -making assist the HR department in tracking employee developments.
Answer
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Arthur
Professional · Tutor for 6 years
Answer
The statements "assist accountants in preparing a trial balance" and "assist users in decision-making" accurately describe purposes of the accounting process in a business. Hence 'Assist accountants in preparing a trial balance' and 'Assist users in decision-making' are the right answers.
Explanation
## Step 1:Analyze each choice according to the commonly accepted purposes of the accounting process. ## Step 2:Determine if each option fits with the known functions and responsibilities of the accounting process.## Step 3:The 'trial balance' is a part of the accounting process and involves the accountant preparing a summary of all ledger balances at a specific point in time, which together prove that total of all debits equal the total of all credits. This function checks the equality between debits and credits after the posting process. [[Source]](https://www.myaccountingcourse.com/accounting-basics/trial-balance)## Step 4:Accounting information plays a significant role in decision making. It presents users with a clear picture of the financial state of the organization, thereby enabling informed decisions.