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Recap of Accounting Process

Amit is recor...

Question

Amit is recording sales transactions in the accounting system so that they can be summarized in a logical manner for the purpose of providing financial statement for decision-making. Amit is doing________.

A

management consulting

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B

review

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C

accounting

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D

auditing

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Solution

The correct option is A accounting
Accounting means recording of business transactions. Here, Amit is recording the same. Therefore, Amit is doing accounting.

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Similar questions

Q. Amit is recording sales transactions in the accounting system so that they can be summarized in a logical manner for the purpose of providing financial information for decision-making. Amit is doing ___________.

Q. _______ defined Accounting as the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least of a financial character, and interpreting the results thereafter.

Q. Accounting is "the art of recording, classifying and summarizing in a significant manner and in terms of money, transactions and events which are, in part at least, of a financial character and interpreting the results thereof". This definition is given by ______________________.

Accounting information system is not used for the purpose of decision making.

Q. Accounting is defined as "the __________ of recording, classifying and summarizing in terms of money transactions and events of a financial character and interpreting the results thereof".

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