What Is the First Step in the Journalizing Process

question 53

Multiple Choice

What is the first step in the journalizing process?

• A)Record the transaction in the journal.
• B)Post the transaction to the ledger.
• C)Determine whether each account is increased or decreased by the transaction.
• D)Specify each account affected by the transaction and classify each account by type.

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Definitions:

Organizations

Groups or assemblies of individuals structured to achieve particular aims or goals through collective efforts and established processes.

Person Development

The process of self-improvement through activities that enhance one’s skills, knowledge, and personal qualities, often contributing to the achievement of personal and professional goals.

Broad Themes

General, wide-ranging subjects or ideas that are common across or central to various discussions, studies, or areas of inquiry.

Human Relations Skills

Abilities essential for effective interpersonal interactions, such as communication and empathy, that contribute to successful teamwork and leadership.