Accounting consists of three basic activities that are related to economic events of an organization.These include

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Accounting involves identifying economic events (such as transactions), recording them in a systematic manner in the books of accounts, and communicating the information to stakeholders such as investors, creditors, and management. This process is commonly referred to as the "accounting cycle," and it includes the steps of identifying transactions, analyzing and recording them as journal entries, posting them to ledgers, preparing financial statements, and analyzing the results to make informed decisions. Therefore, option A - identifying, recording, and communicating - is the best answer.

Accounting Consists of Three Basic Activities That Are Related to Economic