The Accounting Process Begins With

question 66

Multiple Choice

The accounting process begins with:

• A)Analysis of business transactions and source documents.
• B)Preparing financial statements and other reports.
• C)Analysis of prepared financial statements.
• D)Presentation of financial information to decision-makers.
• E)Preparation of the trial balance.

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Definitions:

Cash Balance

The amount of cash in a company's account at any given time.

Deposit

Money placed into a financial institution for safekeeping or to earn interest.

Check Register

A record book or software where all checks written, deposits, and bank transactions are recorded.

Cash Balance

The total amount of money in cash form available in an account at any given time.