Which of the Following Is Not One of the Four

question 73

Multiple Choice

Which of the following is not one of the four steps of processing transactions?

• A)Record journal entry.
• B)Analyze transactions using the accounting equation.
• C)Identify transactions and source documents.
• D)Ensure assets are equal to liabilities.
• E)Post entry to ledger.

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Definitions:

Decisions Made Quickly

A process where choices or judgments are reached in a short period of time, often to respond to immediate needs or opportunities.

Simple

Easily understood or done; presenting no difficulty.

Organizational Structure

The way in which a company or organization is organized, including the roles, responsibilities, and communication systems that govern how its activities are directed towards achieving its objectives.

Central Authority

The governing body or group at the highest level of organizational hierarchy, responsible for making major decisions.