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JAMB Principles of Accounts 2007 Question 44

Question 44

Introduction to Accounting

The fourth stage of the accounting information system is

  1. A.recording
  2. B.interpreting
  3. C.summarizing
  4. D.classifying.
Show the answer and explanation

Answer: C (summarizing)

Explanation

The stages run: identifying (collecting) data, recording, classifying, summarising, then interpreting; summarising is fourth.