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WAEC Financial Accounting 2021 Question 23

Question 23

Introduction to Accounting

The final stage of accounting process is

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

Answer: C (reporting.)

Explanation

Transactions are recorded, classified and summarised, then reported (communicated) to users.