Which of the Following Steps Is the First Step in Accounting

question 27

Multiple Choice

Which of the following steps is the first step in accounting cycle?

• A) The financial statements are prepared.
• B) Source documents are analyzed.
• C) Adjusting entries are recorded and posted.
• D) Closing entries are recorded and posted.

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Definitions:

R. H. Whittaker

An American ecologist famous for proposing the five kingdom classification of organisms in 1969.

Five-kingdom Classification

A system of categorizing all living organisms into five groups: Monera, Protista, Fungi, Plantae, and Animalia.

Four-kingdom Classification

An outdated system of biological classification organizing living organisms into four major kingdoms: Protista, Fungi, Plantae, and Animalia.

Domains

In the context of biology, large, broadly defined areas of life classification above the kingdom level, or regions of a protein with specific structural or functional properties in molecular biology.