The First Step in Recording a Transaction in the Journal

question 172

Multiple Choice

The first step in recording a transaction in the journal is:

• A)determining whether each account is increased or decreased by the transaction.
• B)copying the information from the journal to the ledger.
• C)entering the debit side of the journal entry on the left margin and the credit side,which is indented to the right.
• D)specifying each account affected by the transaction and classifying the account by type.

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Definitions:

Attire

Clothing or apparel worn by individuals, often reflecting personal style, occasion, or social norms.

Monotone

A continuous, unvarying pitch or tone of voice that can make speech sound dull and unengaging.

Oral Report

A verbal presentation of information or findings typically delivered in front of an audience.

Objective

A specific, measurable, attainable, relevant, and time-bound goal that an individual or organization strives to achieve.