The Proper Sequence Used in Recording a Business Transaction Is

question 32

Multiple Choice

The proper sequence used in recording a business transaction is

• A) analyze, post, journalize, record the account balance, and complete the reference column in the journal.
• B) analyze, journalize, post, record the account balance, and complete the reference column in the journal.
• C) analyze, journalize, post, complete the reference column in the journal, and record the account balance.
• D) journalize, analyze, post, record the account balance, and complete the reference column in the journal.

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Definitions:

Preferences

In economics, the individual tastes and desires that dictate the choice of consumption or the selection of goods and services.

Utility Function

An economic tool that measures the preference level of consumers for different combinations of goods and services.

Private Consumptions

Private consumption refers to the spending on goods and services by individuals and households in an economy, excluding government expenditure.

Private Consumptions

The spending by households on goods and services, excluding purchases of new housing but including healthcare, education, and entertainment.