After a Business Transaction Has Been Analyzed and Entered in the Book

question 159

Multiple Choice

After a business transaction has been analyzed and entered in the book of original entry, the next step in the recording process is to transfer the information to

• A) the company's bank.
• B) stockholders' equity.
• C) ledger accounts.
• D) financial statements.

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Definitions:

Overjustification Effect

The tendency for intrinsic motivation to diminish for activities that have become associated with rewards.

Social Comparison Theory

A concept that people evaluate their own abilities and opinions by comparing themselves to others.

Introspection

The process by which a person examines the contents of his or her mind and mental states.

Mental States

Conditions of mind or consciousness, including emotions, attitudes, beliefs, and thoughts.