"According to the conceptual framework, the process of reporting an item in the financial statements of an entity is:"

Recognition.

Explanation:

For reporting an item in the financial statements, the recognition should be considered whenever there the item is recognized the same is to be shown in the financial statements that represent the accuracy of the financial statement.

When a transaction occurred so it would be recorded and the same should be recognized in the financial statements

Hence, according to the given situation, the recognition is the answer

rational decision making is a multi-step process for making choices between alternatives. the process of rational decision making favors logic, objectivity, and analysis over subjectivity and insight. the word “rational” in this context does not mean sane or clear-headed as it does in the colloquial sense.

hope this

answer; at prices that violate government price regulations;