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Test Bank Solutions for Accounting Principles 14th Edition by Weygandt/2023
- Exam (elaborations) • 75 pages • 2023
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Accountants refer to an economic event as a 
a. purchase. 
b. sale. 
c. transaction. 
d. change in ownership. 
Ans: c LO1 BT: K Difficulty: Easy TOT: 1.0 min. AACSB: None AICPA FC: Measurement 
42. The starting point of the accounting process is 
a. communicating information to users. 
b. identifying economic events. 
c. recording economic events. 
d. None of these answers are correct.