After Data Entry,the Next Step in the Transaction Process Is

question 48

Multiple Choice

After data entry,the next step in the transaction process is

• A)document preparation.
• B)processing data.
• C)storing and updating data.
• D)user inquiry.

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Definitions:

Journal

An accounting record where all transactions are initially recorded in chronological order before being posted to ledger accounts.

Ledger

A comprehensive collection of a company's financial accounts, recording all transactions and financial activities over time.

Data Transfer

The process of moving or copying data from one device or system to another.

Horizontal Analysis

Horizontal analysis is a financial analysis technique that compares historical financial information over a series of reporting periods.