Which of the following list of events properly reflects the early steps taken in the accounting process?
A)Record relevant transactions,post journal information to ledger accounts,analyze each transaction,and prepare and analyze the trial balance.
B)Post journal information to ledger accounts,analyze each transaction,post journal information to ledger accounts,and prepare and analyze the trial balance.
C)Prepare and analyze the trial balance,analyze each transaction,post journal information to ledger accounts,record relevant transactions.
D)Analyze each transaction,post journal information to ledger accounts,record relevant transactions,and prepare and analyze the trial balance.
E)Analyze each transaction,record relevant transactions,post journal information to ledger accounts,and prepare and analyze the trial balance.

Question

Quizplus · Accepted Answer

The early steps in the accounting process start with analyzing each transaction to determine its effect on the accounts, followed by recording the relevant transactions in the journal, posting journal information to ledger accounts, and ending with preparing and analyzing the trial balance. The correct sequence of these events is given in choice E, which is the best answer.

Which of the Following List of Events Properly Reflects the Early