Introduction to Accounting · Class 11 · CBSE · Commerce Accountancy
What is the final step in the complete accounting process?
Practice question from Introduction to Accounting (Class 11 · CBSE · Commerce Accountancy), with the correct answer and a step-by-step solution.
easy · MCQ · Q-CD1F7D
What is the final step in the complete accounting process?
- A.Posting entries to the ledger
- B.Preparing the trial balance
- C.Communicating financial information to the usersCorrect answer
- D.Recording transactions in the journal
Solution
The accounting process begins with identifying financial transactions and ends with communicating the summarized financial results to internal and external users.
More from Introduction to Accounting
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