Which of the following is not a step in the accounting process?
A)Record relevant transactions and events in a journal.
B)Post journal information to the ledger accounts.
C)Prepare and analyze the trial balance and financial statements.
D)Analyzing each transaction using the accounting equation.
E)Verify that revenues and expenses are equal.

Question

Quizplus · Accepted Answer

Verifying that revenues and expenses are equal is not a step in the accounting process. The accounting process involves recording, posting, and preparing financial statements, but it does not require revenues and expenses to be equal.

Which of the Following Is Not a Step in the Accounting