Which of the Following Is the First Step in the Accounting

question 2

Multiple Choice

Which of the following is the first step in the accounting cycle?

• A)Recognize that a transaction has occurred
• B)Prepare a source document
• C)Prepare a chart of accounts
• D)Journalize a transaction

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Definitions:

IQ

Short for Intelligence Quotient, a measure of a person's cognitive abilities in relation to their age group.

Bayley III Test Scales

A comprehensive developmental assessment tool for infants and toddlers that evaluates cognitive, language, motor, social-emotional, and adaptive behaviors.

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Toddler Development

The phase of growth that occurs from the ages of 1 to 3 years old, marked by rapid physical growth, cognitive development, and emotional and social advancement.