Get Started
6950

Q: The accounting process involves all of the following except

  • 1
    identifying economic transactions that are relevant to the business
  • 2
    analyzing and interpreting financial reports
  • 3
    communicating financial information to users by preparing financial reports
  • 4
    recording nonquantifiable economic events
  • Show Answer
  • Workspace

Answer : 2. "analyzing and interpreting financial reports"
Explanation :

Answer: B) analyzing and interpreting financial reports Explanation: The three steps in the accounting process are   1. Identification, 2. Recording, and 3. Communication.    Hence, analyzing and interpreting financial reports is not involved in the accounting process.

The Most Comprehensive Exam Preparation Platform

Get the Examsbook Prep App Today