The word classify means to arrange (a group of people or things) in classes or categories according to shared qualities or characteristics. The word can also be used to mean designate (documents or information) as officially secret or to which only authenticated people may have access.

Accounting Cycle

Accounting Cycle Learning Objective: Define and explain accounting cycle. Accounting cycle refers to a complete sequence of accounting procedures which are required to be repeated in same order during each accounting period. Accounting cycle includes: Recording: First, all transactions should be recorded in the