The final step in the recording process is to
A) analyze each transaction.
B) enter the transaction in a journal.
C) prepare a trial balance.
D) transfer journal information to ledger accounts.

Question

Quizplus · Accepted Answer

The final step in the recording process is to transfer journal information to ledger accounts. This is where the information is organized and stored for future use in financial statements and other reports. The other options (analyzing each transaction, entering the transaction in a journal, preparing a trial balance) are important steps in the recording process, but they occur before the final step of transferring journal information to ledger accounts.

The Final Step in the Recording Process Is to