Which of the Following Is the First Step in the Accounting

question 111

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 and adjusted trial balance.
• D)Post the journal entries to the ledger.

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Definitions:

Conflict

A serious disagreement or argument, typically a prolonged one, that can occur between individuals, groups, or nations.

Task Forces

Special groups formed temporarily to focus on addressing a specific issue or to perform a particular task or activity.

Temporarily Organized

Refers to a group or project set up for a limited time period to achieve a specific goal, after which it may be disbanded.

Punctuated Equilibrium

A theory in evolutionary biology suggesting that species evolve rapidly during short periods of radical change, punctuating long periods of minimal change.