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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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