Fundamental Accounting Principles 22th Edition by John Wild ,Ken Shaw,Barbara Chiappetta

Exercise 42

Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization's business activities. Classify the following activities as part of the identifying (I), recording (R), or communicating (C) aspects of accounting.
________ 1. Analyzing and interpreting reports.
________ 2. Presenting financial information.
________ 3. Keeping a log of service costs.
________ 4. Measuring the costs of a product.
________ 5. Preparing financial statements.
________ 6. Seeing revenues generated from a service.
________ 7. Observing employee tasks behind a product.
________ 8. Registering cash sales of products sold.