What Is the First Step to Be Performed by Most

question 42

Multiple Choice

What is the first step to be performed by most organizations in their accounting cycles?

• A)Recording business transactions in a journal
• B)Preparing a trial balance
• C)Recording closing entries in a journal
• D)Preparing transaction source documents
• E)none of the above

---

Definitions:

Intragenerational Equity

The ability to meet the needs of current generations.

Eco-Justice

Refers to the fair treatment and meaningful involvement of all people regardless of race, color, national origin, or income with respect to the development, implementation, and enforcement of environmental laws, regulations, and policies.

Quality of Life

A measure that evaluates the general well-being of individuals and societies, encompassing not only wealth and employment but also the built environment, physical and mental health, education, recreation and leisure time, and social belonging.

GRI

Global Reporting Initiative; a leading framework for sustainability reporting that provides guidelines for companies to report their environmental, social, and governance performance.