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      Question

      The last stage of accounting

      is:
      A Recording Correct Answer Incorrect Answer
      B Classification Correct Answer Incorrect Answer
      C Summarizing Correct Answer Incorrect Answer
      D Communication Correct Answer Incorrect Answer
      E Analysis Correct Answer Incorrect Answer

      Solution

      Accounting cycle: 1. Recording (journal, vouchers). 2. Classifying (ledger, posting). 3. Summarizing (trial balance, P&L, balance sheet). 4. Analysis/Interpretation (ratios, trends). 5. Communication (reports, financial statements β†’ stakeholders). The final stage is communicating results to internal & external users for decisions

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