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Meaning, need and objectives of accounting - class-XI
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The process of accounting starts with _______ and ends with_______.
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A
Identifying the transaction, Communicating the information
💡 Explanation:
It is clear from the definition that accounting is not only concerned with recording, classifying or summarizing the transactions but it is also plays an important role in providing appropriate information to the business for decision making.
Hence, the process of accounting starts with identification of transaction and ends with communication of information.