Basic steps in the recording process include all of the following except
A) Transfer the journal information to the appropriate account in the statement of financial postion.
B) Analyze each transaction for its effect on the accounts.
C) Enter the transaction information in a journal.
D) All of these choices are corrrect.

Question

Quizplus · Accepted Answer

The basic steps in the recording process include analyzing each transaction for its effect on the accounts, entering the transaction information in a journal, transferring the journal information to the appropriate account in the ledger (not statement of financial position). Therefore, option A is the exception and the correct answer.

Basic Steps in the Recording Process Include All of the Following