Final answer:
The correct answer is C) Accounting. Accounting is essential for recording, analyzing, and summarizing financial transactions to assist in good financial management within a business.
Step-by-step explanation:
The process of recording, analyzing, and summarizing business transactions for the purpose of good financial management is known as C) Accounting. Accounting is a critical business function that involves tracking all financial transactions, preparing financial statements, and ensuring that a company's financial operations are accurate and compliant with regulations. The role of accounting in a business is to provide stakeholders with reliable financial information, which can be used for decision-making, planning, and financial reporting.