Final answer:
The primary goal of accounting is to provide reliable and accurate financial information to facilitate informed decision-making by stakeholders, which is essential for business sustainability and economic efficiency.
Step-by-step explanation:
The ultimate goal of doing accounting is to Provide Reliable Information. While firms are motivated to earn profits, which is the difference between revenues and costs, accounting's role extends beyond just determining profitability. Accounting ensures the accuracy of financial records, thereby supporting a range of stakeholders in making informed decisions. Understanding economic efficiency is one aspect of this, as it focuses on maximizing the production of desired goods and services with the available resources. In addition, recognizing why firms cease to exist is crucial — many new startups end their business venture when they realize that they are not achieving the expected returns, highlighting the importance of accurate accounting in sustaining a business.