Put the Following Statements in the Correct Order Based on the Steps

question 31

Short Answer

Put the following statements in the correct order based on the steps in the accounting cycle.
a.Assemble AIS outputs.
b.Debit cash and credit sales.
c.Determine the correct way to enter a transaction in the AIS.
d.Examine a bank statement to determine the amount of a bank service charge.
e.Make entries that account for timing differences between cash flows and accrual basis revenue and expense.
f.Prepare the AIS for a new fiscal year.
g.Reorganize AIS information from chronological to account-based.
h.Verify, for the first time, the equality of debits and credits in the ledger.
i.Verify, for the second time, the equality of debits and credits in the ledger.
j.Verify, for the third time, the equality of debits and credits in the ledger.

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Definitions:

Corporate Level

Pertaining to high-level decision-making and strategy formulation in a business organization, often involving executives and board members.

Strategy

An elevated strategy purposed to accomplish one or several objectives amidst uncertain circumstances.

Board of Directors

A group of individuals elected by shareholders to oversee the activities and governance of a corporation, ensuring it's run properly and profitably.

Corporate Level

The corporate level refers to the highest level of organizational strategy and decision making, often pertaining to the entire enterprise rather than specific divisions or products.