The analysis of business transactions is facilitated by
A)reconciliation of bank balances at the end of the reporting period.
B)good internal controls and performing daily cash reconciliation.
C)developing an electronic spreadsheet showing the transactional effects.
D)maintaining a written copy of all invoices and receipts of the company for a period of at least 7 years.
E)None of these answer choices is correct.

Question

Quizplus · Accepted Answer

Developing an electronic spreadsheet showing the transactional effects helps to easily track, organize and analyze business transactions. It allows for quick identification of patterns, trends and potential issues, which can help in making informed business decisions. Reconciliation of bank balances, good internal controls, and maintaining records are all important for accurate accounting, but they do not necessarily facilitate analysis of transactions.

The Analysis of Business Transactions Is Facilitated by