Which of the Following Gives the Correct Sequence of Accounting

question 78

Multiple Choice

Which of the following gives the correct sequence of accounting procedures?

• A) Financial statements,trial balance,ledger,journal
• B) Financial statements,journal,ledger,trial balance
• C) Journal,ledger,trial balance,financial statements
• D) Ledger,trial balance,journal,financial statements

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Definitions:

Fixed Assets

Long-term tangible assets that are used in the operations of a business, such as buildings and machinery.

Net Working Capital Turnover

A measure of how effectively a company uses its net working capital to generate sales.

Total Fixed Assets

The combined value of all long-term assets that a company owns, which are not expected to be converted to cash within a year.

Long-Term Liabilities

Long-term liabilities are debts or obligations that are due more than one year in the future, impacting a company's long-term financial sustainability and planning.