Which Phase of the Accounting Process Involves Recognizing the Effect

question 46

Multiple Choice

Which phase of the accounting process involves recognizing the effect of transactions on assets,liabilities,owner's equity,revenue,and expenses of a business?

• A) input
• B) processing
• C) output
• D) summarizing

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Definitions:

Dispersion Forces

Weak forces resulting from temporary polarization of molecules due to the movement of electrons, also known as London dispersion forces.

Van Der Waals

Weak forces of attraction between molecules, named after Dutch physicist Johannes Diderik van der Waals, significant in the properties of gases and liquids.

Dipole-Dipole Forces

Intermolecular forces between two polar molecules due to the positive and negative poles attracting each other.

Compounds

Substances consisting of two or more different elements chemically bonded together in a fixed ratio.