Which of the following is NOT a function of an accounting system?

The correct choice highlights that auditing is not a primary function of an accounting system. An accounting system is primarily designed to facilitate the recording, classification, and summarization of financial transactions.

Recording involves documenting all financial transactions in chronological order. Classifying the data is about organizing these transactions into categories, such as assets, liabilities, revenues, and expenses. Summarizing involves preparing financial statements and reports that provide a comprehensive overview of the financial activities over a specific period.

Auditing, on the other hand, is an independent assessment of the accuracy and fairness of financial statements. It is a separate process that verifies the integrity of the accounting records and ensures compliance with regulations, but it is not an inherent function of an accounting system itself. This distinction is crucial for understanding the primary roles of accounting systems and how they operate within the broader context of financial reporting and oversight.