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Which two steps in the accounting cycle are aided

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Reference no: EM133007134

Problem 1: Which two steps in the accounting cycle are aided by the preparation of a worksheet?

a. adjusting the accounts and preparing financial statements
b. analyze source documents and preparing financial statements
c. posting journal entries and adjusting the accounts
d. journalizing transactions and closing the accounts

Problem 2: Posting a P3,000 debit as a credit causes an error

a. in the journal.
c. that is divisible by 9.
b. known as transposition.
d. that is divisible by 2.

Reference no: EM133007134

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