The Correct Order of Steps in the Manual Recording Process

question 28

Multiple Choice

The correct order of steps in the manual recording process is:
I Post transactions to the ledger
Ii Record transactions in the journal
Iii Prepare financial statements
Iv Record adjusting entries

• A) i, ii, iii, iv
• B) iv, ii, i, iii
• C) i, iv, iii, ii
• D) ii, i, iv, iii

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Definitions:

Product Development

The process of creating, designing, and bringing a new product to the market.

New Product

A good, service, or idea that is perceived by some potential customers as new and that is introduced to the market.

Consultative Decisions

Are made by one individual after seeking input from or consulting with members of a group.

Manager

An individual responsible for controlling or administering an organization or group of staff; someone who makes decisions and oversees the work of others.