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प्रश्न
The first step in accounting cycle is ______.
विकल्प
Recording of transactions in journal
Preparing income statement
Posting entries in ledger
Preparing balance sheet
उत्तर
The first step in accounting cycle is Recording of transactions in journal.
Explanation:
The first step in the accounting cycle is recording transactions in the journal, also known as journaling. This step involves documenting all financial transactions in chronological order as they occur. After transactions are recorded in the journal, they are posted to the ledger, which is the next step in the cycle.
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संबंधित प्रश्न
Financial position of a business is ascertained on the basis of ___________.
What are the steps involved in the process of accounting?
Ledger is also called the ______.
The accounting cycle consists of ______.
It refers to a complete sequence of accounting activities.
Accounting cycle ends with the ______.
What is accounting cycle?
Every transaction has four effects on accounting records. Give two reasons either for or against.
State four stages of Accounting cycle.
Explain the accounting cycle.
