The Starting Point of the Accounting Process Is

question 159

Multiple Choice

The starting point of the accounting process is

• A)communicating information to users.
• B)identifying economic events.
• C)recording economic events.
• D)None of these answers are correct.

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Definitions:

Debit Card

A payment card that deducts money directly from a consumer's checking account to pay for a purchase, unlike a credit card, which borrows money from a line of credit.

Credit Card

A plastic card issued by banks or financial institutions that allows the holder to borrow funds to pay for goods and services with the promise to repay them, along with any agreed-upon charges, at a later date.

Regret

A feeling of sadness, repentance, or disappointment over something that has happened or been done.

Standard Deck

A pack of playing cards, typically comprising 52 cards in four suits, used in a variety of card games.