Question

Identify the correct sequence of the accounting process

A.
Identifying – Communicating – Recording



B.
Recording – Communicating – Identifying



C.
Communicating – Recording – Identifying



D.
Identifying – Recording – Communicating

Answer 1

The correct sequence of the accounting process is:

**D. Identifying – Recording – Communicating**

1. **Identifying** – Recognizing and determining which economic events need to be recorded.
2. **Recording** – Documenting the identified events in the accounting system.
3. **Communicating** – Presenting the recorded information to users in the form of financial statements and reports.