Reference no: EM132782439

Question 1: Which of the following accounting steps is accomplished after the others listed?

Option 1: Post the entry.
Option 2: Prepare the trial balance.
Option 3: Apply the rules of double entry.
Option 4: Record the entry.

Question 2: Which of the following is a business event that is not considered a recordable transaction?

Option 1: An entity receives a product previously ordered.
Option 2: An entity pays an employee for work performed.
Option 3: A customer inquires about the availability of a service.
Option 4: A customer purchases a service.

Question 3: Which of the following is a business event that is also considered a recordable transaction?

Option 1: An entity hires a new employee.
Option 2: A customer purchases merchandise.
Option 3: An entity orders a product from a supplier.
Option 4: An employee sends a purchase requisition to the purchasing department.