BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -identifying economic transactions that are relevant to the business. communicating financial information to users by preparing financial reports. recording non quantifiable economic events. analyzing and interpreting financial reports.

Detailed explanation-2: -Expert-Verified Answer. The accounting process involves all of the following in the given options except recording the non-quantifiable economic events. Usually the accounting process includes quantifiable economic events along instead of Non-quantifiable economic events.

Detailed explanation-3: -Recognition is the recordation of a business transaction in an entity’s accounting records. For example, a loss can be recognized on a lower of cost or market analysis, thereby recording the loss in the accounting records. Or, a sale transaction is recognized by recording revenue in the accounting records.

Detailed explanation-4: -The first four steps in the accounting cycle are (1) identify and analyze transactions, (2) record transactions to a journal, (3) post journal information to a ledger, and (4) prepare an unadjusted trial balance.