Summarising

The correct answer is option 'D', which states that the net profit or loss will be derived at the summarising stage of accounting. In accounting, the process of summarising is the final step where all the financial transactions and information are compiled and presented in a concise and meaningful manner.

Explanation:
Accounting is a systematic process that involves several stages or steps. These stages are performed in a sequential manner to ensure accurate and reliable financial reporting. The net profit or loss is determined at the end of this process, specifically during the summarising stage. Let's understand each stage briefly:

1. Recording:
Recording is the initial stage of accounting. It involves the systematic and chronological recording of all financial transactions and events in the books of accounts. This stage includes journalizing transactions into appropriate books of original entry such as the cash book, sales book, purchase book, etc.

2. Classifying:
After recording, the next stage is classifying. In this stage, the recorded transactions are sorted and grouped into various categories based on their nature and type. The purpose of classification is to organize the transactions in a logical manner, making it easier to analyze and interpret the financial information later.

3. Interpretation:
Once the transactions are classified, the next stage is interpretation. This stage involves analyzing and interpreting the financial information to understand the financial position and performance of the business. Various financial ratios, trend analysis, and other tools are used to interpret the data and identify any significant trends or patterns.

4. Summarising:
The final stage of accounting is summarising. In this stage, the classified and interpreted financial information is summarized and presented in the form of financial statements such as the income statement, balance sheet, and cash flow statement. The net profit or loss is derived at this stage by calculating the difference between the total revenues and total expenses.

Conclusion:
The net profit or loss is determined at the summarising stage of accounting. This stage involves compiling and presenting the financial information in a summarized form through financial statements. It is important to follow all the stages of accounting accurately to ensure reliable and meaningful financial reporting.