Which of these is NOT one of the three verbs in the definition of accounting?
Which of these is NOT one of the three verbs in the definition of accounting?
Answer
Audit
Options - A. Audit - B. Identify - C. Record - D. Communicate Why - A. Correct — auditing is a separate profession that checks the record; the definition’s verbs are identify, record and communicate. - B. Identifying the economic events is the first verb. - C. Recording them is the second verb — bookkeeping alone. - D. Communicating the result to a decision-maker is the third verb.
Hermanson Vol 1 intro; OpenStax Accounting Vol 1 §1.1, Vol 2 §1.2 (concept map A1, A2)