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:

Gram

An expression of mass measuring exactly one thousandth of a kilogram.

Milligram

A unit of mass equal to one thousandth of a gram, used in the metric system.

Microgram

A unit of mass in the metric system, equal to one-millionth of a gram.

Milliliters

A unit of volume in the metric system, equal to one thousandth of a liter or about 0.0338 fluid ounces.