To Prepare Records for Filing, You Should Complete These Steps

question 32

Multiple Choice

To prepare records for filing, you should complete these steps in this order:

• A) collect, index, code, inspect, cross-reference, and sort the records
• B) collect, inspect, index, code, cross-reference, and sort the records
• C) collect, sort, inspect, index, code, and cross-reference the records
• D) collect, cross-reference, index, code, sort, and inspect the records

---

Definitions:

Discount Factor

A multiplier used in time value of money calculations to determine the present value of a future sum or cash flow.

Straight-Line

A method of calculating depreciation of an asset, whereby its cost is evenly spread over its useful life.

Cash Payback Period

The time it takes for a business to recover its investment in a project solely from cash flows, used to assess the risk or attractiveness of an investment.

Depreciation Expense

The systematic allocation of the cost of a tangible asset over its useful life, reflecting the consumption of the asset.