What are the 4 phases accounting?

Answer

1. Recording 2. Classifying 3. Summarizing 4. Interpreting
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The 4 cycles of business are recession, low point or depression, expansion and recovery and then finally, peak. Should these cycles hold true, our country is just starting cycle 3
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Recording is a basic phase of accounting that is also known as bookkeeping. In this phase, all financial transactions are recorded in a systematical and chronological manner in the
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1. Recording. 2. Classifying. 3. Summarizing. 4. Interpreting.
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