The process by which financial information about a business is recorded, classified, summarized, interpreted, and communicated to interested parties is known as Accounting. Thus, option A is correct.
What is financial information?
Data about business financial transactions is referred to as financial information. Individuals and loaners use this data to calculate estimates of credit risk.
Accounting can be termed as the process where information on the finance of a company is recorded, summarized, and the results are then examined, confirmed, and reported.
There are three means from which one can validate the accounts that can be a balance sheet, an income statement, and a cash flow statement. Therefore, option A is the correct option.
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