Examlex
The following steps in the accounting cycle are presented out of order below.Arrange the steps in proper order by placing a number from 1 through 6 in the blanks provided.Also identify each step as either a recurring activity (RA)-one that would be repeated during the fiscal period-or an end-of-period activity (EOP)-one performed at the end of the accounting period.
______ a.Prepare an adjusted trial balance.
______ b.Record entries in the journal.
______ c.Adjust the accounts.
______ d.Prepare a trial balance.
______ e.Analyze business transactions from source documents.
______ f.Post entries to the ledger.
Subject-Matter Jurisdiction
The authority of a court to hear cases of a particular type or cases relating to a specific subject matter.
Diversity Jurisdiction
A legal principle allowing federal courts to hear cases where the parties are from different states or countries and the amount in controversy exceeds a specified threshold.
Federal Court
A court established under the federal judiciary system of a country that deals with matters pertaining to federal laws and constitutional issues.
Amount In Controversy
The monetary value or stake of a lawsuit, determining whether a federal court has jurisdiction over the case.
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