Briefly summarize the six steps of the accounting process
What will be an ideal response?
Answer: In the accounting process, an accountant finds and sorts records, puts daily transactions in journals, puts journal entries in categories in a ledger, tests the accuracy of the ledger by running a trial balance, reports on the information by issuing financial statements, and analyzes the information by assessing the firm's financial condition by using ratio analysis.
Explanation: The accounting process includes the sorting of records, the entry of daily transactions into journals, the categorization of journal entries in a ledger, the testing of the accuracy of the ledger by trial balance, the issuing of financial statements, and the assessment of the firm's financial condition by using ratio analysis.
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a. the tablet computer. b. the "newness" of the tablet computer. c. the name. d. the operating manual.
Why are the bid-ask spreads larger in the forward market than in the spot market?
A) because the forward market is less liquid than the spot market B) because the spot market is more volatile than the forward market C) because the forward market is more liquid than the spot market D) because the spot market is less liquid than the forward market
________ in decision making involves scanning the environment, either intermittently or continuously
Fill in the blanks with correct word