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Which is not a step in the accounting process

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Reference no: EM132739375

Problem 1: Which of the following is not a step in the accounting process?

a. Identification

b. Verification

c. Recording

d. Communication

Problem 2: Which of the following transactions will increase the total assets of the business?

a. Collected a customer's payment to apply on his open balance

b. Bought an equipment, on cash basis

c. Bought an equipment, on account basis

d. Paid utilities expense incurred

Reference no: EM132739375

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