Indicate the Sequential Order of the Following Steps in the Accounting

question 92

Essay

Indicate the sequential order of the following steps in the accounting information processing cycle:
Analyzing transactions
Preparing financial statements
Developing a trial balance
Collecting original data
Posting to the accounts
Journalizing transactions

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Definitions:

Proportional Tax

A taxation system where the tax rate remains constant regardless of the amount subject to tax, leading to a uniform tax rate for all taxpayers.

Diagram

A diagram is a simplified drawing showing the appearance, structure, or workings of something, typically used for explanation or clarification.

Lines

In geometry, lines are straight one-dimensional figures that have no curvature and extend infinitely in both directions.

U.S. Tax System

The structured framework of legal guidelines and rules governing federal, state, and local taxation in the United States, encompassing various types of taxes.