Which of the Following Is the Fifth and Last Step

question 76

Multiple Choice

Which of the following is the fifth and last step in the journalizing and posting process?

• A)posting the accounts to the ledger
• B)identifying each account affected and its type
• C)determining whether the accounting equation is in balance
• D)determining whether each account has increased or decreased

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Definitions:

Net Operating Income

a gauge of a company's financial performance, calculated as gross income minus operating expenses, excluding taxes and interest.

Present Value

The present worth of a sum of money or cash flows expected in the future, based on a certain rate of return.

Cash Flow

The combined value of financial transactions into and out of an enterprise, crucially affecting its cash reserves.

Present Value

is the current worth of a future sum of money or stream of cash flows given a specified rate of return.