The Order of the Flow of Accounting Data Is to (1)

question 94

True/False

The order of the flow of accounting data is to (1) post in a ledger, (2) record in a journal, (3) prepare a trial balance.

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Definitions:

Office Equipment

Tangible, long-term assets used in the operation of a business, such as computers, printers, and furniture, facilitating daily work tasks.

Land

A natural resource representing the earth's surface not including any structures; often considered a fixed asset in accounting.

Intangible

An asset that lacks physical substance, such as intellectual property, brand names, or goodwill.