The Order of the Flow of Accounting Data Is to (1)record

question 102

True/False

The order of the flow of accounting data is to (1)record in a journal, (2)post in a ledger, (3)prepare a trial balance.

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Definitions:

Coal Deposit

A geological formation containing a natural accumulation of coal, which can be mined for use as a fuel.

Tons Available

A measurement indicating the quantity of a commodity or material expressed in tons that is available for use or sale.

Normal Balance

The side of an account (debit or credit) on which increases to the account are recorded.

Financial Statement

A record that outlines the performance, financial position, and cash flows of a company, offering insight into its financial health.