The Steps in the Process of Accounting Take Place in the Following

question 56

Multiple Choice

The steps in the process of accounting take place in the following order:

• A) measuring, identifying, decision making, communicating.
• B) identifying, measuring, communicating, decision making.
• C) identifying, communicating, measuring, decision making.
• D) identifying, decision making, measuring, communicating.

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Definitions:

Tangible Costs

Direct costs associated with the production or purchase of a good or service that can be easily quantified.

Value

The importance, worth, or usefulness of something to a person or in the market.

Quality

The degree to which a product or service meets or exceeds customer expectations in terms of reliability, design, functionality, durability, and satisfaction.

Long-Term Customer Relationships

The development and maintenance of enduring relationships between a business and its customers, leading to repeat business and loyalty.