Which of these statements is/are correct? I Recording, classifying, and summarizing economic events in a logical manner for the purpose of providing financial information for decision making is commonly called accounting. || The trait that distinguishes auditors from accountants is the auditor's ability to interpret accounting principles and concepts. Select one: a. Both (1) and (II) are incorrect. b. Only Il is correct. C. Both (1) and (II) are correct. O d. Only lis correct