Genesis Company performs the following accounting tasks during the year. a. Analyzing and interpreting information. b. Classifying

Question:

Genesis Company performs the following accounting tasks during the year.
a. Analyzing and interpreting information.
b. Classifying economic events.
c. Explaining uses, meaning, and limitations of data.
d. Keeping a systematic chronological diary of events.
e. Measuring events in dollars and cents.
f. Preparing accounting reports.
g. Reporting information in a standard format.
h. Selecting economic activities relevant to the company.
i. Summarizing economic events.
Accounting is “an information system that identifies, records, and communicates the economic events of an organization to interested users.”


Instructions
Categorize the accounting tasks performed by Genesis as relating to either the identification (I), recording (R), or communication (C) of economic events.

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Related Book For  book-img-for-question

College Accounting

ISBN: 1986

1st Edition

Authors: Jerry J. Weygandt, Paul D. Kimmel, Deanna C. Martin, Jill E. Mitchell

Question Posted: