alleryStart learning →How do cloud-based accounting firms compare with traditional firms in winning clients?
AThey add half as many clients
BThey add five times more clients
CThey add the same number of clients
DThey add a tenth as many clients
Answer & Solution
Correct answer: B. They add five times more clients
1. Businesses expect their accountants to build the financial picture in real time and to help with decisions on profitability, sales and expansion.
2. Firms working in the cloud add five times more clients than traditional accounting firms.
3. The pull is the speed at which financial data can be entered, accessed and discussed.
4. Answers that put cloud firms level with or behind traditional firms miss the direction of that shift entirely.
_Source: OpenStax Introduction to Business (CC BY 4.0), Ch 14 "Using Financial Information and Accounting", section 14.8 Trends in Accounting_
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