Chapter 1, Problem 1E

Classifying activities reflected in the accounting system C1

Classify the following activities as part of the identifying (I), recording (R), or communicating (C) aspects of accounting.

___ 1. Analyzing and interpreting reports.

___ 2. Presenting financial information.

___ 3. Keeping a log of service costs.

___ 4. Measuring the costs of a product.

___ 5. Preparing financial statements.

___ 6. Acquiring knowledge of revenue transactions.

___ 7. Observing transactions and events.

___ 8. Registering cash sales of products sold.