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Which is the last step of accounting as a process of information? a. Recording of data in the books of accounts b. Preparation of summaries in the form of financial statements c. Communication of information d. Analysis and interpretation of information
Category : Accounting | Answer: 1 12 Months Ago

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c. Communication of information Accounting starts with -identifying a transaction -then recording in Journal -then classifying in the ledger -then summarising in final accounts -then interpretation through Ratio analysis -then finally communicating the information to the users of the financial statement. So, the first step is identifying and the last step is communicating the information.
12 Months Ago
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