The fourth step in analyzing a transaction is to determine:
A)if the account balance will increase or decrease.
B)the accounts that are involved.
C)the type of accounts that are involved.
D)which accounts are to be debited and credited.

Question

Quizplus · Accepted Answer

Determining which accounts are to be debited and credited is the fourth step in analyzing a transaction. This is necessary in order to accurately record the transaction in the accounting system and maintain accurate account balances. The other options (A, B, and C) are also important aspects to consider when analyzing a transaction, but they are not the fourth step in the process.

The Fourth Step in Analyzing a Transaction Is to Determine