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Q: The accounting process involves all of the following except

  • 1
    identifying economic transactions that are relevant to the business
  • 2
    analyzing and interpreting financial reports
  • 3
    communicating financial information to users by preparing financial reports
  • 4
    recording nonquantifiable economic events
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Answer : 2. "analyzing and interpreting financial reports"
Explanation :

Answer: B) analyzing and interpreting financial reports Explanation: The three steps in the accounting process are   1. Identification, 2. Recording, and 3. Communication.    Hence, analyzing and interpreting financial reports is not involved in the accounting process.

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