Amy Pond, a fellow employee, wants to understand the basic steps in the recording process. Identify and briefly explain the steps in the order in which they occur
Amy Pond, a fellow employee, wants to understand the basic steps in the recording process. Identify and briefly explain the steps in the order in which they occur
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
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Amy Pond, a fellow employee, wants to understand the basic steps in the recording process. Identify and briefly explain the steps in the
order in which they occur
Expert Solution
Introduction :
Recording process is a part of accounting process.
In accounting all the transactions are identified , recorded and classified.
Recording is necessary as it will provide the complete details of the transaction based on which the financial statements will be prepared.
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