The accounting process is correctly sequenced asa) identifying→recording→communicating b) identifying→communicating→recording c) communicating→recording→identifying d) recording→communicating→identifying

The correct answer to the following question is option A) Identifying - Recording - Communicating .

Explanation:

An accounting process can be defined as series of activities which begins with identifying a transaction and ends with books closed. This process is also called accounting cycle because this process is done every financial reporting period. Here the first step would be to identify a transaction, then getting source document of transaction ready, after that classifying the transaction , then recording it by making journal entries, which would then lead to preparation of ledger, trial balance and other financial statements etc.

correct, but each time you dont pay the price of the penalty can increase.

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