Accounting is best described as b) an information system that provides reports to stakeholders.
Explanation: Accounting involves the systematic recording, reporting, and analysis of financial transactions. It is not merely a collection of economic data; rather, it plays a crucial role in communicating that data to various stakeholders, including investors, managers, and regulatory agencies. By adhering to established standards and rules, such as GAAP or IFRS, accounting ensures that financial information is presented consistently and understandably. This allows stakeholders to make informed decisions based on accurate and relevant data.