The Accounting Process to Get from Transactions and Events to Financial

question 85

Multiple Choice

The accounting process to get from transactions and events to financial statements begins with:

• A)Identifying business transactions and events from source documents.
• B)Record relevant transactions and events in a journal.
• C)Analyze transactions and events using the accounting equation.
• D)Presentation of financial information to decision-makers.
• E)Preparation and analysis of the trial balance and financial statements.

---

Definitions:

Specific Industry

A distinct sector of the economy focused on a particular category of products or services.

Ratification

The formal approval of an agreement or act, making it officially valid.

International Agreements

Treaties or accords between countries that govern their mutual relations and commitments.

Senate

The Senate is one of the two chambers of the United States Congress, responsible for making and passing federal laws, consisting of two senators from each state.