The following steps in the accounting cycle are presented out of order below. Arrange the steps in proper order by placing a number from 1 through 6 in the blanks provided. Also identify each step as either a recurring activity (RA) -one that would be repeated during the fiscal period-or an end-of-period activity (EOP)-one performed at the end of the accounting period. ______ a. Prepare an
adjusted trial balance. ______ b. Record entries in the journal. ______ c. Adjust the accounts. ______ d. Prepare a trial balance. ______ e. Analyze business transactions from source documents. ______ f. Post entries to the ledger.
Fill in the blank(s) with correct word
a. 6 EOP
b. 2 RA
c. 5 EOP
d. 4 EOP
e. 1 RA
f. 3 RA
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It would always be conservative to value inventory at market
Indicate whether the statement is true or false
Which of the following is true of consumer markets?
a. They deal with products or services that are meant for personal use. b. They do not sell goods that are sold in business markets. c. They exceed business markets by size in most countries. d. They focus primarily on facilitating an organization's operations.
________ is an effort to attain objectives by attacking or hurting others.
A. Assertiveness B. Acquiescence C. Autonomy D. Aggression