The First Step in the Journalizing and Posting Process Is

question 81

Multiple Choice

The first step in the journalizing and posting process is to ________.

• A) post the journal entry to the ledger
• B) identify the accounts involved and the account type
• C) decide whether each account increases or decreases
• D) record the transaction in the journal

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Definitions:

Bureaucracy

An administrative framework marked by rigid rules, methods, and a clear chain of command, typically found in sizable institutions or governmental bodies.

Reliability and Stringency

Concepts relating to the consistency of a measure (reliability) and the strictness or rigor of procedures or criteria (stringency).

Discipline

The practice of training people to obey rules or a code of behavior, using punishment to correct disobedience.

Clear Division of Labour

Refers to the specific allocation of work tasks or responsibilities among individuals or groups in an organization to improve efficiency and productivity.