Which of the following is not one of the accounting cycle?
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Which of the following is not a step in the accounting process?
(a) Identification.
(b) Verification.
(c) Recording.
(d) Communication.
Accounting
Accounting can be defined as the process for recording the business transactions through a cycle of accounting. It helps in ensuring statutory compliance and provides quantitative financial information to the investors or shareholders for better decision making.
Answer and Explanation: 1
The correct option is (b) Verification.
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