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Home Interview Accounting and Finance Comments

  • Question
  • The accounting process involves all of the following except


  • Options
  • A. identifying economic transactions that are relevant to the business
  • B. analyzing and interpreting financial reports
  • C. communicating financial information to users by preparing financial reports
  • D. recording nonquantifiable economic events

  • Correct Answer
  • 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.

  • Tags: AIEEE, Bank Exams, CAT, Analyst, Bank Clerk, Bank PO

    Accounting and Finance problems


    Search Results


    • 1. What determines the value of an item?

    • Options
    • A. the capital required to build the factory
    • B. the unlimited wants of the consumers
    • C. the resources consumed in production
    • D. the amount of goods that are produced
    • Discuss
    • 2. Managerial Accounting is also called

    • Options
    • A. Control accounting
    • B. Management accounting
    • C. Cost accounting
    • D. Both B & C
    • Discuss
    • 3. Financial statements are prepared in the following order.

    • Options
    • A. Income statement - Balance sheet - Statement of retained earnings
    • B. Income statement - Statement of retained earnings - Balance sheet
    • C. Balance sheet - Statement of retained earnings - Income statement
    • D. Statement of retained earnings - Balance sheet - Income statement
    • Discuss
    • 4. Generally accepted accounting principles are
    • Discuss
    • 5. Which of the following is not a direct tax?

    • Options
    • A. Sales tax
    • B. Corporation tax
    • C. Wealth tax
    • D. Estate tax
    • Discuss
    • 6. Explain What are the issues related with Accounts receivable?
    • Discuss
    • 7. How to define Inter company Transaction in Account Receivable?
    • Discuss
    • 8. How important does Accounts receivable for small business and why?
    • Discuss
    • 9. What is an accrued receivable?
    • Discuss
    • 10. How debtors play its role in Accounts receivable?
    • Discuss


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