In What Way Is the Fifth Step in the Accounting

question 75

Multiple Choice

In what way is the fifth step in the accounting cycle different from the seventh step in the accounting cycle?

• A)The fifth step comes before preparing financial statements; the seventh step comes afterward.
• B)The fifth step focuses only on permanent accounts; the seventh step focuses only on temporary accounts.
• C)The fifth step focuses only on temporary accounts; the seventh step focuses only on permanent accounts.
• D)The seventh step includes the results of internal transactions; the fifth step does not.

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Definitions:

Barriers to Listening

Factors that hinder effective listening, including both internal distractions, like biases or preoccupations, and external interruptions, like noise.

Physical

Pertaining to the body, material objects, or the tangible aspects of a person or thing.

Effective Listening

A communication skill that involves actively focusing on and understanding the speaker's message, demonstrating attention and empathy.

Listening to Managers

The act of actively paying attention to information or instructions given by managerial personnel.