Which of the following is not one of the four steps of processing transactions?
A)Record journal entry.
B)Analyze transactions using the accounting equation.
C)Identify transactions and source documents.
D)Ensure assets are equal to liabilities.
E)Post entry to ledger.

Question

Quizplus · Accepted Answer

While ensuring that assets are equal to liabilities is an important part of accounting, it is not specifically one of the four steps of processing transactions. The four steps are: identifying transactions and source documents, recording journal entries, posting entries to the ledger, and preparing a trial balance.

Which of the Following Is Not One of the Four