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

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Definitions:

Depreciation

An accounting method of allocating the cost of a tangible or physical asset over its useful life, representing the asset's wear and tear over time.

Store Equipment

Tangible assets used in a retail business's operations, such as cash registers, shelving, and display cases.

Period Cost

Costs that are not directly associated with the production of goods and are expensed in the period they are incurred.

Factory Utilities

The costs associated with utilities in a manufacturing environment, including electricity, water, and gas necessary for production.