The First Required Step in the Accounting Cycle Is

question 98

Multiple Choice

The first required step in the accounting cycle is

• A) reversing entries.
• B) journalizing transactions in the book of original entry.
• C) analyzing transactions.
• D) posting transactions.

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Definitions:

Quality Circles

Groups of workers who voluntarily come together to solve problems and improve work processes and quality in their organization.

Bureaucratic Inertia

The tendency of bureaucratic organizations to resist change and continue with established procedures, often leading to inefficiency or outdated practices.

Laissez-Faire Leadership

Allows subordinates to work things out largely on their own, with almost no direction from above. It is the least effective type of leadership.

Laissez-Faire Leadership

A leadership style characterized by minimal supervision, where leaders trust their employees to take their own decisions and solve problems independently.