What do you think? Which of the following is an appropriate definition of accounting? Select your answer. It is an art of recording, classifying, and summarizing in a significant manner and in terms of money, transactions and events which are in part at least of a financial character and interpreting the results thereof It is the process of classifying, measuring and communicating economic information to permit informed judgment and decision by users of the information. All of the above It is a service activity. Its function is to provide quantitative information, primarily financial in nature, about economic entities, that is intended to be useful in making economic decisions