Communication of economic events is the part of the accounting process that involves
A) identifying economic events.
B) quantifying transactions into dollars and cents.
C) preparing accounting reports.
D) recording and classifying information.

Question

Quizplus · Accepted Answer

Communication of economic events involves preparing accounting reports, such as financial statements, to inform stakeholders about the company's financial performance. Identifying economic events, quantifying transactions, recording and classifying information are all steps in the accounting process that precede the communication stage.

Communication of Economic Events Is the Part of the Accounting