Question

Measuring a company's business transactions and communicating those measurements for decision-making purposes in the form of financial statements are two key functions of financial accounting. The full set of procedures used to accomplish both of these key functions is called the:

Answer 1

Answer:

Accounting cycle.

Explanation:

The accounting cycle can be defined as the process that an organization identifies, analyzes and records its accounting events.

This process occurs from the moment a financial transaction is carried out, and is concluded as soon as a certain transaction is included in the company's financial statements.

Every financial statement of a company must present some characteristics, they must be based on compliance and precision, for this there is a set of rules called the accounting cycle.