The analyze-record-summarize process is applied to daily transactions,to month-end adjustments,and as part of the year-end closing process.

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The analyze-record-summarize process is a fundamental accounting principle that is applied to daily transactions, month-end adjustments, and as part of the year-end closing process. This process involves analyzing transactions to determine their impact on accounts, recording the transactions in respective accounts, and summarizing the accounts to prepare financial statements.

The Analyze-Record-Summarize Process Is Applied to Daily Transactions,to Month-End Adjustments,and