The correct order of steps in the manual recording process is:
I Post transactions to the ledger
Ii Record transactions in the journal
Iii Prepare financial statements
Iv Record adjusting entries
A) i, ii, iii, iv
B) iv, ii, i, iii
C) i, iv, iii, ii
D) ii, i, iv, iii

Question

Quizplus · Accepted Answer

The correct order is to first record transactions in the journal, then post those transactions to the ledger, followed by recording any necessary adjusting entries, and finally, prepare the financial statements.

The Correct Order of Steps in the Manual Recording Process