Accounting is an information and measurement system that identifies, records, and communicates relevant, reliable, and comparable information about an organization’s business activities. Classify the following activities as part of the identifying (I), recording (R), or communicating (C) aspects of accounting.
_______ 1. Determining employee tasks behind a service.
_______ 2. Establishing revenues generated from a product.
_______ 3. Maintaining a log of service costs.
_______ 4. Measuring the costs of a product.
_______ 5. Preparing financial statements.
_______ 6. Analyzing and interpreting reports.
_______ 7. Presenting financial information.