Asked by Josie Pagnucco on Apr 24, 2024
Verified
The sequence of steps in the transaction recording process is
A) journal analyze ledger.
B) analyze journal ledger.
C) journal ledger analyze.
D) ledger journal analyze.
Transaction Recording Process
The systematic approach of documenting financial transactions in the accounting records of a business, ensuring accuracy and completeness.
Analyze
The process of examining data or information to break it down into its components, understand its structure, and identify patterns or relationships.
Journal
An accounting record where all transactions are initially recorded, chronologically, before they are transferred to ledger accounts.
- Recognize the sequence of steps in the transaction recording process.
Verified Answer
SB
Seraphine Bastin6 days ago
Final Answer :
B
Explanation :
The correct sequence for the transaction recording process is to first analyze each transaction to understand its financial effects, then record it in the journal in chronological order, and finally post these journal entries to the ledger accounts.
Learning Objectives
- Recognize the sequence of steps in the transaction recording process.