The procedure used by accountants to convert transactions into financial statements is called ________.
A)recording financial information
B)processing financial information
C)the accounting cycle
D)summarizing financial information

Question

Quizplus · Accepted Answer

The accounting cycle is the process used by accountants to convert transactions into financial statements. It includes steps such as recording financial information, processing financial information, summarizing financial information, and preparing financial statements. However, the complete process is referred to as the accounting cycle.

The Procedure Used by Accountants to Convert Transactions into Financial