The First Step in the Recording Process Is to

question 66

Multiple Choice

The first step in the recording process is to

• A) prepare financial statements.
• B) analyze each transaction for its effect on the accounts.
• C) post to a journal.
• D) prepare a trial balance.

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Definitions:

Phonological Loop

A component of the working memory model that deals with the storage and manipulation of verbal and auditory information.

Visuospatial Sketchpad

A component of working memory responsible for temporarily holding and processing visual and spatial information.

Episodic Buffer

The system that binds visual and verbal information in the long-term store and retrieves information from the long-term store.

Central Executive

The part of the brain's working memory system responsible for overseeing and regulating the flow of information from and to its various components.