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The accounting process involves all of the following except

identifying economic transactions that are relevant to the business
analyzing and interpreting financial reports
communicating financial information to users by preparing financial reports
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.

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