Multiple Choice Question 88
The usual sequence of steps in the transaction recording process is:
analyze→ journal → ledger.
journal→ ledger → analyze.
ledger→ journal → analyze.
journal→ analyze → ledger.
Multiple Choice Question 50
Which one of the following represents the expanded basic accounting
equation?
+ Common Stock + Retained Earnings + Dividends – Revenue –
Expenses.
Assets + Dividends + + Common Stock + Retained Earnings +
Revenues.
Assets – Liabilities – Stock + Retained Earnings + Revenues –
Expenses.
+ Expenses – Liabilities.
Multiple Choice Question 133
A trial balance may balance even when each of the following occurs
except when
a transposition error is made.
a journal entry is posted twice.
incorrect accounts are used in journalizing.