The steps in the accounting process focus on analyzing and recording financial transactions and events within a company. Those steps are shown below. Using the number system of 1 as the firststep and 4 as the last step in the process, number the steps in the correct order in which they would occur (1 thru 4)._____ Record relevant transactions and events in a journal,_____ Post journal information to the ledger accounts_____ Prepare and analyze the trial balance_____ Analyzing each transaction
What will be an ideal response?
___2__ Record relevant transactions and events in a journal,
___3__ Post journal information to the ledger accounts
___4__ Prepare and analyze the trial balance
___1__ Analyzing each transaction
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The principal debtor's lack of capacity due to his status as a minor may be used by the surety to avoid payment of the obligation
a. True b. False Indicate whether the statement is true or false
Intuition and expediency are primary characteristics of which of the following sales forecasting methods?
A. Surveys B. Executive judgment C. Cycle analysis D. Market tests E. Industry indicators
Martinson used his van to deliver illegal drugs to users throughout a particular city. Because the van was old, he decided to trade it in for a new van. The contract that Martinson makes with the car agency to purchase a new van is
a. illegal; therefore, Martinson would not have to pay for the van when it is delivered to him. b. legal; therefore, Martinson would have to pay for the van when it is delivered to him. c. illegal; therefore, when Martinson receives the van, he must return it to the car agency. d. illegal; therefore, Martinson would not have to pay for the van when it is delivered to him, but when Martinson receives the van, he must return it to the car agency.
________ are shares of stock that were previously issued by the corporation, but later reacquired.
A. Issued shares B. Treasury shares C. Converted shares D. Reacquisition shares