Which One of the Following Is an Optional Step in the Accounting

question 78

Multiple Choice

Which one of the following is an optional step in the accounting cycle of a business enterprise?

• A) Analyze business transactions
• B) Prepare a worksheet
• C) Prepare a trial balance
• D) Post to the ledger accounts

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Definitions:

Direct Materials Price

The cost per unit of raw materials that are directly traceable to the production of goods.

Direct Labor Rate Variances

The difference between the actual cost of direct labor and the expected (or standard) cost, used in variance analysis to monitor labor costs.

Budgeted Standards

Budgeted standards represent targeted financial goals or benchmarks that a company aims to achieve within a certain period, often used in performance assessment and planning.

Raw Material

Basic substances in their natural, modified, or unprocessed states, used in the production or manufacturing of goods.