Which of the Following Is Not a Step in the Accounting

question 49

Multiple Choice

Which of the following is not a step in the accounting process?

• A)Record relevant transactions and events in a journal
• B)Post journal information to the ledger accounts
• C)Prepare and analyze the trial balance
• D)Analyzing each transaction
• E)Verify that revenues and expenses are equal

---

Definitions:

Unadjusted Year End

The conclusion of a fiscal year before any adjustments are made for accounting purposes, such as accruals or deferrals.

Trial Balance

A bookkeeping worksheet in which the balances of all ledgers are compiled into debit and credit account column totals that are equal.

Bad Debt Expense

The cost associated with accounts receivable that a company can no longer collect because they are considered uncollectible.

Earnings Levels

Different tiers or amounts of profitability achieved by a business during a specific period.