Which of the Following Is Not Part of a Three-Step

question 99

Multiple Choice

Which of the following is not part of a three-step process that a growing business uses for the evolution of its accounting systems?

• A) analysis
• B) design
• C) implementation
• D) feedback

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Definitions:

Equity

The residual interest or ownership rights in the assets of a company after deducting its liabilities, often reflected as shareholders' equity.

Assets

Economic resources owned or controlled by a business or individual that are expected to provide future benefits.

Liabilities

Financial obligations or debts owed by a business to external parties or entities.

Retained Earnings

The portion of net earnings kept by the company instead of being paid out to its shareholders in the form of dividends.