The First Required Step in the Accounting Cycle Is

question 66

Multiple Choice

The first required step in the accounting cycle is

• A) adjusting entries.
• B) journalizing transactions in the book of original entry.
• C) analyzing transactions.
• D) posting transactions.

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Definitions:

Risk Avoidance Theory

A concept in decision-making and psychology that describes the tendency to avoid situations or actions that could lead to negative outcomes.

Sensitization

Sensitization is the increased response to a stimulus following its repeated exposure, leading to an escalated response to subsequent exposures.

B State

Refers to a theoretical physiological state that an organism is in, affecting its learning and behavior; often not a scientifically established term.

Withdrawal

A physiological and psychological state characterized by symptoms that occur when stopping or drastically reducing the intake of a substance that was used regularly.