Which of the Following Is the First Step in the Accounting

question 136

Multiple Choice

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

• A)Prepare financial statements.
• B)Analyze business transactions from source documents.
• C)Prepare an adjusted trial balance.
• D)Post the journal entries to the ledger.

Understand the philosophy and tools of Total Quality Management (TQM).

Identify key figures and their contributions to quality improvement, such as Deming.

Recognize and apply the PDCA cycle in continuous improvement processes.

Differentiate between various TQM tools and their applications in problem-solving.

---

Definitions:

Sales Presentations

The practice of showcasing a product or service to potential or existing customers to make a sale or reinforce business relationships.

Sales Interview

Sales Interview is a discussion or meeting between a job candidate and a potential employer to determine the candidate's suitability for a sales position.

Non-selling Times

Periods when sales activities are not being conducted, which can include planning, research, and administrative tasks.

Gross Profit

This is the financial gain made after subtracting the cost of goods sold from the revenue generated from sales, before deducting any operational expenses.