Which of the following are the three steps applied to daily transactions in the accounting cycle?
A)Analyze,record,summarize.
B)Present,process,summarize.
C)Determine,Scrutinize,record.
D)Analyze,determine,record.

Question

Quizplus · Accepted Answer

The three steps applied to daily transactions in the accounting cycle are analyze (identify the relevant transaction), record (enter the transaction into the appropriate account), and summarize (prepare financial statements to communicate the results of the transactions). Choice A is the only answer that includes those three steps.

Which of the Following Are the Three Steps Applied to Daily