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WAEC Financial Accounting 2013 Question 6

Question 6

Introduction to Accounting

The order of financial accounting process involves: (i) recording; (ii) presenting; (iii) collecting; (iv) analyzing

  1. A.I, II, III and IV
  2. B.II, III, I and IV
  3. C.III, I, II and IV
  4. D.IV, III, II and I
Show the answer and explanation

Answer: C (III, I, II and IV)

Explanation

Data is first collected, then recorded in the books, then presented as financial statements, and finally analysed and interpreted.