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:

Operating Angles

The specific angles at which certain mechanical parts, such as driveshafts, are designed to operate efficiently.

Propeller Shaft

The mechanical component used to transmit power from an engine or motor to the propeller in a boat or aircraft.

Universal Joints

Flexible joints used in drive shafts that allow for the transmission of power between shafts that are not aligned.

Driveshaft Flexibility

The ability of a driveshaft to flex or bend without breaking, to accommodate movement and alignment changes in a vehicle's drivetrain.