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

question 134

Multiple Choice

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

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

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Definitions:

Market Supply

The total amount of a product or service that is available for purchase at any given price level in a market.

Equilibrium Price of X

The market price at which the quantity of a commodity demanded equals the quantity supplied, specifically for commodity X.

Demand for X

The desire and ability of consumers to purchase a specific product or service, denoted as "X."

Supply of X

The total amount of a product "X" that sellers are willing and able to sell at possible prices, within a given time period.