What Is the First Step in the Journalizing Process

question 89

Multiple Choice

What is the first step in the journalizing process?

• A) Enter the transaction in the journal.
• B) Identify the transaction from source documents and other information.
• C) Determine what accounts will be affected and whether to debit or credit them.
• D) Post the transaction to the ledger.

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Definitions:

Symbolic Names

Identifiers that represent variables, functions, or other entities in code, making the program easier to read and maintain.

Actual Data

Actual data refers to information that is real or existing, not estimated, predicted, or imitated.

Populating

The process of filling a data structure with data, like adding elements to an array or entries to a database.

C

A high-level programming language used for developing system software and applications.