learning objective 4 6 questions 1 the order of the steps in the recording process h 4307088

learning objective 4 6 questions 1 the order of the steps in the recording process h 4307088

Learning Objective 4.6 Questions

1) The order of the steps in the recording process has

A) the adjusted trial balance after preparing the financial statements.

B) the journalization and posting of adjustments before the ledger.

C) the adjusted trial balance before the ledger.

D) journalization after the adjusted trial balance.

E) the unadjusted trial balance after the ledger.

2) Which of the following is the correct order in the recording process?

A) Journalize and post adjustments, unadjusted trial balance, adjusted trial balance, ledger, financial statements

B) Ledger, journalize and post adjustments, unadjusted trial balance, adjusted trial balance, financial statements

C) Ledger, unadjusted trial balance, journalize and post adjustments, adjusted trial balance, and financial statements

D) Unadjusted trial balance, journalize and post adjustments, ledger, adjusted trial balance, financial statements

E) Journalize and post adjustments, adjusted trial balance, ledger, unadjusted trial balance, financial statements

3) Cash flows

A) always follow the adjusting entries.

B) always precede the adjusting entries.

C) may precede or follow the adjusting entries.

D) always follow the unadjusted trial balance.

E) always precede the closing entries.

4) After the accrual of unrecorded expenses, ________ are decreased by later cash payments.

A) assets

B) equity

C) expenses

D) revenues

E) liabilities

5) Entries for the accrual of unrecorded expenses and the accrual of unrecorded revenues are made prior to the associated cash flows.

6) Adjusting entries are journalized after the financial statements are prepared.

7) Advance cash payments for future services to be received create noncash assets in the balance sheet.

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