recording, classifying, summarizing, and interpreting financial events in an organization is referred to as ______.

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19-11-2021
Business

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recording, classifying, summarizing, and interpreting financial events in an organization is referred to as ______.

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jayilych4real jayilych4real · Answer 1 · 2021-11-30T11:39:31+01:00

The name which is given to the recording, classifying, summarizing, and interpreting financial events in an organization is referred to as:

Accounting

According to the given question, we are asked to state the name which is given to the recording, classifying, summarizing, and interpreting financial events in an organization.

As a result of this, we can see that accounting has to do with the ways through which a business person keeps inventory of the inflows and outflows in his business. This is vital so that he can easily calculate his profit and loss.

Therefore, the correct answer is accounting.