Which of the following is not a step in the accounting process?
A)Analyze each transaction and event using the accounting equation.
B)Identify each transaction and event from source documents.
C)Record relevant transactions and events in a journal.
D)Post journal information to ledger accounts.
E)Ensure all cash is distributed to stockholders at the end of each period.

Question

Quizplus · Accepted Answer

Ensuring all cash is distributed to stockholders at the end of each period is not a step in the accounting process. The accounting process involves analyzing transactions using the accounting equation, identifying transactions from source documents, recording transactions in a journal, and posting information to ledger accounts to prepare financial statements.

Which of the Following Is Not a Step in the Accounting