Multiple Choice
The usual sequence of steps in the recording process is to analyze each transaction, enter the transaction in the
A) journal, and transfer the information to the ledger accounts.
B) ledger, and transfer the information to the journal.
C) book of accounts, and transfer the information to the journal.
D) book of original entry, and transfer the information to the journal.
Correct Answer:
Verified
Correct Answer:
Verified
Q144: After transaction information has been recorded in
Q145: If a revenue account is credited, the
Q146: The ledger accounts should be arranged in<br>A)chronological
Q147: The first step in posting involves<br>A)entering in
Q148: The first step in the recording process
Q150: A trial balance would only help in
Q151: The explanation column of the general ledger<br>A)is
Q152: Revenues are a subdivision of retained earnings.
Q153: The complete effect of a transaction on
Q154: The normal balance of an expense account