The Usual Sequence of Steps in the Transaction Recording Process

question 81

Multiple Choice

The usual sequence of steps in the transaction recording process is:

• A) journal ➔ analyze ➔ ledger.
• B) analyze ➔ journal ➔ ledger.
• C) journal ➔ ledger ➔ analyze.
• D) ledger ➔ journal ➔ analyze.

---

Definitions:

Cost Centre

A segment of an organization where costs can be identified and attributed directly, but which does not directly generate revenue.

Division's Performance

Evaluation of a specific division's effectiveness in achieving its business goals and objectives, often measured against pre-set benchmarks.

Manager Responsibility

The duties and obligations assigned to managers, including decision making, leadership, and overseeing operations and employees.

Shared Service Units

Organizational entities created within a firm to provide specialized support functions centrally to various business units or departments, enhancing efficiency and reducing costs.