Evaluate the statement "Accounting is all about numbers.". Using the definition of accounting to
justify your answer. (10 marks, maximum 250 words)

To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well.

Explanation:

Accounting is the measurement, processing and communication of financial and non-financial information about economic entities such as business and corporations.

To say "Accounting is all about numbers." is incorrect since Non- Financial or Non Qualitative information must be communicated on economic entities as well .These Non - Financial information included the Corporate Activities which has impacts on Community (People) and the Environment (Planet).

month 1 start amount =$3287.90 interest=(3287.90x0.0145/12)3.97 total to pay=$3291.81 paid =$1200 balance =$2,091.87

month 2 starting amount= $2,091.87 interest =$25.28 total to pay =$2117.15 paid =$1200 balance $917.15

month 3 starting amount =$917.15 interest =$11.08 total to pay =$928.23 paid =$928.23 balance =$0 total to pay 1200+1200+928.23 = $3328.23 it will take 3 months to pay a total of $3328.23