The First Step in the Accounting Cycle Involves Analyzing Transactions

question 104

Multiple Choice

The first step in the accounting cycle involves analyzing transactions, based on this analysis, which of the following would not be recorded?

• A)sales receipt
• B)rental contract
• C)cheque
• D)invoice

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Definitions:

Relational Uncertainty

The lack of confidence a person feels in his or her ability to explain or predict issues or the nature of a specific relationship.

Selective Perception

The process by which individuals perceive what they want in media messages while ignoring opposing viewpoints.

Interpersonal Perception

The process of making meaning from the behaviors of others and forming impressions about their personality, intentions, and feelings.

Passive Perception

Perception that occurs without conscious effort, simply in response to one’s surroundings.