Accountant Alan Wingspan Has Just Finished Working on the Balance

question 142

Multiple Choice

Accountant Alan Wingspan has just finished working on the balance sheet,income statement,and statement of cash flows for his company.The next step in the accounting cycle will involve:

• A)analyzing the firm's financial statements to evaluate the financial condition of the firm.
• B)placing the data used to construct the statements into an archive known as a data warehouse.
• C)posting the results of these statements to the appropriate journal.
• D)conducting forensic tests of the data to ensure its accuracy.

---

Definitions:

Kansas-Nebraska Act

An 1854 U.S. law that created the territories of Kansas and Nebraska, leaving the decision of slavery to popular sovereignty, which intensified the pre-Civil War sectional conflict.

Whig Party

A political party in the United States that was active between the 1830s and the 1850s, opposing the policies of Andrew Jackson and advocating for federal government support of a more diversified economy.

Republican Party

One of the two major contemporary political parties in the United States, traditionally supporting pro-business, conservative, and right-leaning policies.

Democratic Party

A major political party in the United States that historically has advocated for social welfare, civil rights, and governmental intervention in the economy to promote social justice.