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18 October, 06:03

Which activities in the accounting process focus on identifying, classifying, and summarizing economic events? Select all that apply.

A : identification

B : communication

C : calculating

D : extracting

E : recording

F : transmitting

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  1. 18 October, 09:14
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    Identification, communication, calculating are the accounting process focus on identifying, classifying, and summarizing economic events.

    A : identification

    B : communication

    C : calculating

    Explanation:

    Accounting is a systematic process of recognizing recording estimating arrange confirming some rising translator and conveying money related data. It uncovers benefit or misfortune for a given period and produce the idea of a company's advantages and liabilities and proprietors' value.

    This cycle begins with a business occasion. Accountants investigate the exchange and record it in the general diary with a diary section. The charges and credits from the diary are then presented on the general record where an unadjusted preliminary parity can be readied.

    The fundamental strides for Accounting process are:

    Examining the exchanges as they happen, Recording them in the diaries, Posting charges and attributes from diary sections to the general record, Modifying the benefits with a preliminary parity, Planning budget summaries, and Shutting the transitory records.
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