The process that must identify the transactions to be recorded, capture all the important details of the transactions, properly process the transaction details, and provide reports is termed the:
A)Revenue Process
B)Expenditure Process
C)Accounting Information System
D)Business Process

Question

Quizplus · Accepted Answer

The process described in the question is that of an accounting information system, which is responsible for identifying and recording transactions, processing the details, and providing reports. The Revenue and Expenditure Processes are specific components of the accounting information system, and while important, do not encompass the entire process described. The Business Process is a broader term that encompasses all activities within an organization, including those outside the scope of accounting.

The Process That Must Identify the Transactions to Be Recorded