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Accounting
Directions: Identify whether the given is a process or nature of accounting. Write your answers on a separate sheet of paper. 1. Accounting is a storehouse of information. 2. Accounting deals with financial information. 3. Recording events in a chronological order. 4. Communicating the financial reports to the users. 5. Accounting is a process. 6. Accounting is a service activity. 7. Identifying the economic events. 8. Accounting is both an art and a discipline. 9. Recording the sale of merchandise. 10. Recording the purchase of merchandise

Directions: Identify whether the given is a process or nature of accounting. Write your answers on a separate sheet of paper. 1. Accounting is a storehouse of information. 2. Accounting deals with financial information. 3. Recording events in a chronological order. 4. Communicating the financial reports to the users. 5. Accounting is a process. 6. Accounting is a service activity. 7. Identifying the economic events. 8. Accounting is both an art and a discipline. 9. Recording the sale of merchandise. 10. Recording the purchase of merchandise

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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Identify whether the give is process or nature accounting
Directions: Identify whether the given is a process or nature of accounting. Write your answers on a separate sheet of paper. 1. Accounting is a storehouse of information. 2. Accounting deals with financial information. 3. Recording events in a chronological order. 4. Communicating the financial reports to the users. 5. Accounting is a process. 6. Accounting is a service activity. 7. Identifying the economic events. 8. Accounting is both an art and a discipline. 9. Recording the sale of merchandise. 10. Recording the purchase of merchandise
Transcribed Image Text:Directions: Identify whether the given is a process or nature of accounting. Write your answers on a separate sheet of paper. 1. Accounting is a storehouse of information. 2. Accounting deals with financial information. 3. Recording events in a chronological order. 4. Communicating the financial reports to the users. 5. Accounting is a process. 6. Accounting is a service activity. 7. Identifying the economic events. 8. Accounting is both an art and a discipline. 9. Recording the sale of merchandise. 10. Recording the purchase of merchandise
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